You are here: Home » Markets » Commodities » Industrial Metals
Business Standard

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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