Zinc marginally up on global cues

July contract rises 0.25%

Zinc prices rose marginally by 0.25% to Rs 101.30 per kg in futures trade today as speculators created fresh position in tandem with a firming trend overseas.

At the Multi Commodity Exchange, zinc for delivery in July gained 25 paise, or 0.25%, to Rs 101.30 per kg, with a business turnover of 697 lots.

August zinc traded higher by 20 paise, or 0.20%, to Rs 102.15 per kg in 152 lots.

Market analysts said fresh positions built-up by speculators in tune with a firm trend in global markets, on speculation that central banks will boost efforts to spur economic growth, raised the demand for industrial metals, supporting the rise in zinc futures prices here.