Zinc up 0.3% on spot demand
However, weak overseas trend capped the gains
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Zinc futures prices today edged up by 0.29% to Rs 103.30 per kg amid a firm trend in spot market on domestic demand, as speculators created positions.
At the Multi Commodity Exchange (MCX), the May contract went up by 30 paise, or 0.29%, to Rs 103.30 per kg in 1,225 lots.
The June contract rose by 25 paise, or 0.24%, to Rs 104.60 per kg in 212 lots.
Globally, zinc traded a shade lower at $1,873.50 a tonne at the London Metal Exchange (LME).
Marketmen said besides improved demand in the spot market, covering-up of short positions by speculators, supported the upside in zinc prices at futures trade.
However, a weak trend overseas, capped the gains, they said.
At the Multi Commodity Exchange (MCX), the May contract went up by 30 paise, or 0.29%, to Rs 103.30 per kg in 1,225 lots.
The June contract rose by 25 paise, or 0.24%, to Rs 104.60 per kg in 212 lots.
Globally, zinc traded a shade lower at $1,873.50 a tonne at the London Metal Exchange (LME).
Marketmen said besides improved demand in the spot market, covering-up of short positions by speculators, supported the upside in zinc prices at futures trade.
However, a weak trend overseas, capped the gains, they said.
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First Published: May 29 2013 | 2:54 PM IST