Zinc rises 0.17 pc in futures trade on spot demand

In restricted activity, zinc prices moved higher by 0.17 per cent in futures trade today after speculators enlarged positions following rising demand from consuming industries at spot markets.
However, metal's weakness at the London Metal Exchange (LME), capped the gains.
In futures trading at the Multi Commodity Exchange, zinc for delivery in June rose by 25 paise, or 0.17 per cent, to Rs 147.50 per kg in business turnover of 3 lots.
Metal for delivery in current month contracts traded 20 paise, or 0.14 per cent higher at Rs 146.75 per kg in a turnover of 296 lots.
Analysts said fresh positions built-up by speculators in tandem with a firm trend at spot market on the back of pick up in industrial demand but a weak trend metal overseas, limited the gains.