Zinc recovers by 0.58%

Taking positive cues from overseas markets and pick-up in spot demand, zinc prices rose by 0.68% to Rs 103.20 kg in futures trade today.

On the Multi Commodity Exchange, March zinc edged higher by 70 paise, or 0.68%, to Rs 103.20 per kg, with a trading volume of 721 lots.

The April contract also moved up by 60 paise, or 0.58%, to Rs 104.15 per kg, with a turnover of 62 lots.   

Market analysts said apart from a firming trend in base metals on the London Metal Exchange (LME), a pick-up in domestic demand also pushed up zinc futures prices here.

Meanwhile, zinc was being quoted 1.2% higher at $2,059 per tonne in early trade on the LME.