Zinc rises by 0.5% on short-covering

Rising demand in the spot market also influenced zinc prices

Zinc prices today rose by 0.51% to Rs 110.05 per kg in futures trade as speculators created fresh positions, driven by a rising spot demand.

 

At the Multi Commodity Exchange, zinc for delivery in July rose by 55 paise, or 0.51%, to Rs 108.80 per kg in business turnover of 2,073 lots.

 

Likewise, the metal for delivery in August traded higher by 45 paise, or 0.41%, to Rs 110.05 per kg in 536 lots.

 

Market analysts said apart from short-covering by speculators in view of ending settlement, rising demand in the spot market, mainly influenced zinc prices at futures trade.