Zinc marginally up in on rise in demand

Trade remains largely range-bound on the local bourse

Zinc traded shade higher by 0.14% to Rs 105.10 per kg in futures trade today, after speculators enlarged positions, driven by a firming trend overseas.

On the MCX, zinc for delivery in May edged higher by 15 paise, or 0.14%, to Rs 105.10 per kg, with a trading volume of 245 lots.

The metal for the June delivery also moved up by similar margin to Rs 105.60 per kg, with a trade turnover of 59 lots.

Analysts said besides a firming trend at the London Metal Exchange (LME), a pick-up in demand in the spot markets also pushed up zinc futures prices.

Meanwhile, zinc was being quoted a shade higher at $1,909 per tonne in early trade on the LME.