Zinc futures up on spot demand, global trend

Zinc traded 0.59 per cent higher at Rs 110.25 per kg on the Multi Commodity Exchange counter today, largely in tandem with a firm trend at the spot market on the back of rising demand.

Positive cues from global markets supported the upside in zinc futures prices here.

At the MCX counter, zinc for delivery in February rose by 65 paise, or 0.59 per cent, to Rs 110.25 per kg, with a business turnover of 59 lots.

The metal for delivery in January traded higher by 60 paise, or 0.55 per cent, to Rs 109 per kg, with a business turnover of 865 lots.

Market analysts attributed the rise in zinc futures prices to a firm trend in copper and other base metals and pick-up in its demand at the spot market.