Zinc marginally up on global cues

Tracking a firm global trend, zinc prices traded marginally higher by 0.19% to Rs 103.60 per kg in futures trade today as speculators created fresh position.

At the Multi Commodity Exchange, the July contract for zinc inched up by 20 paise, or 0.19%, to Rs 103.60 per kg, with a business turnover of 1,519 lots.

The August contract traded higher by similar margin to Rs 104.20 per kg in 77 lots.

Market analysts said fresh buying by speculators in tandem with a firm trend in global markets mainly helped zinc prices to trade a tad higher at futures market.

Meanwhile, zinc gained 0.2% to $1,869 a tonne on the London Metal Exchange.