Zinc futures surge 2.14% on firm global cues

Zinc futures prices today surged by over 2 per cent to Rs 98 per kg, after speculators created fresh positions at prevailing levels, driven by firm trend overseas

At the Multi Commodity Exchange counter, zinc delivery for November gained Rs 2.05, or 2.14 per cent to Rs 98 per kg, with a business turnover of 2,463 lots.

The metal for delivery in December also traded up by Rs 2.05, or 2.10 per cent to Rs 99.50 per kg, with a business turnover of 317 lots.

Analysts attributed the rise in zinc futures prices to a firm trend in copper and other base metals pack at the London Metal Exchange (LME) and pick up in domestic demand at spot markets.

Meanwhile, at the LME, zinc prices climbed 4.1 per cent.