Zinc rises by 2.5% on overseas cues

Improved demand in the spot market also helped zinc prices

Supported by a firming trend overseas and firm demand at spot markets, zinc futures prices today edged up by 2.46% to Rs 122.05 per kg as speculators created positions.

 

At the Multi Commodity Exchange, zinc for delivery in August up by Rs 2.90 paise, or 2.46%, to Rs 118.05 per kg, with a business turnover of 776 lots.

 

The metal for delivery in September also rose by Rs 2.60, or 2.22%, to Rs 122.05 per kg, with a business turnover of 130 lots.

 

Marketmen said besides improved demand in the spot market, a firming trend in select metals overseas on the back of strong US data, supported the upside in zinc prices at futures trade.