Zinc up 0.45% on overseas cues, spot demand

Speculators enlarge positions on higher industrial offtake, firming trend in overall base metal market abroad

Zinc futures prices today edged up by 0.45 per cent to Rs 110.50 per kg amid a firm global trend and better domestic demand, as speculators enlarged positions.

At the Multi Commodity Exchange, zinc for delivery in March edged up by 50 paise, or 0.45 per cent, to Rs 110.50 per kg, with a business turnover of 1,424 lots.

April zinc rose by a similar margin to trade at Rs 111.35 per kg, with a business turnover of 79 lots.

Marketmen said improved demand in the spot market amid a firming trend in base metals overseas, supported the rise in metal prices at futures trade.