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Zinc futures up on spot demand, overseas trend

Press Trust of India  |  New Delhi 

Zinc prices rose by Rs 1.30 to Rs 84.40 per kg in futures market today as speculators created fresh positions, driven by spot demand and firming trend at the London Metal Exchange.

At the Multi Commodity Exchange, zinc for August month contract rose by Rs 1.30, or 1.53 per cent to Rs 86.45 per kg with an open interest of 125 lots.

The metal for delivery in June month contract also gained Rs 1.10, or 1.32 per cent to Rs 84.40 per kg in 7,512 lots. At the London Metal Exchange, zinc rose 1.2 per cent to $1,852 per tonne. 

Market analysts attributed the rise in zinc futures price to rise in demand in domestic spot and strength in entire base metals pack at the London Metal pack on speculation that the Federal Reserve will keep interest rates near zero levels.

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First Published: Thu, June 24 2010. 12:58 IST
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