Zinc up 0.25% on global cues

Speculation that China will bring stimulus policies, improved US economy raise demand outlook for the metal

Zinc prices rose by 0.25% to Rs 99.75 per kg in futures trade today after speculators enlarged positions, driven by a firming trend in global markets.

On the Multi Commodity Exchange, zinc for delivery in August up by 25 paise, or 0.25%, to Rs 99.75 per kg, with a turnover of 1,517.

August zinc moved up by a similar margin to Rs 101.05 per kg, with a business volume of 69 lots.

Marketmen said the metal's strength at the London Metal Exchange (LME) on speculation that China, the world's largest user, will bring stimulus policies and data showing that the US economy is improving, raised the demand outlook, pushing up zinc futures prices here.

 

At the LME, zinc traded a shade higher.