Zinc up 0.33% on spot demand

Firm global trend helps uptrend

Amid pick up in domestic demand and a firming global trend, zinc prices traded higher by 0.33% to Rs 106.50 per kg in futures trade today.

At the Multi Commodity Exchange, zinc for delivery in October traded higher by 35 paise, or 0.33%, to Rs 106.50 per kg, with a business turnover of 4,594 lots.

November zinc edged up by 30 paise, or 0.28%, to 107.30 per kg, with a business turnover of 157 lots.

Marketmen said besides pick up in demand in the spot market, a firm global trend on speculation that moves by central banks around the world will stimulate growth and boost demand for industrial metals helped zinc to trade higher at futures trade here.

 

Meanwhile, zinc gained 0.5% to $2,076.25 a tonne on the London Metal Exchange.