Zinc futures up on global cues, spot demand

Zinc traded higher by almost one per cent to Rs 101.85 per kg in futures market today, largely supported by a firming trend overseas and pick-up in demand at the domestic markets.

At the Multi Commodity Exchange, zinc for delivery in May rose by Re 1, or nearly one per cent to Rs 101.85 per kg, with a business volume of 1,953 lots.

Similarly, the metal for delivery in April inched up by 70 paise, or 0.70% to Rs 100.05 per kg, with an open interest of 2,356 lots.

Market analysts said apart from a firming trend at the London Metal Exchange (LME), pick-up in demand at the spot markets also led to the rise in zinc futures prices.

 

Meanwhile, zinc gained 1.9% to $2,282 a metric tonne at the LME.