Zinc marginally up in range-bound movements

Analysts said besides a firming trend at the LME, a pick-up in demand in the spot markets also pushed up zinc prices

Zinc traded slightly higher by 0.10% to Rs 104.70 per kg in futures trade today, after speculators enlarged positions, driven by a firming trend overseas.

On the Multi Commodity Exchange, the April delivery edged higher by 10 paise, or 0.10%, to Rs 104.70 per kg, with a trading volume of 255 lots.

The May delivery moved up by 10 paise, or 0.09%, to Rs 105.45 per kg, with a trade turnover of 33 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 0.7% higher at $2,000 per tonne in early trade on the LME.