Zinc up 0.53% on spot demand

Zinc prices edged up by 0.53% in futures trade today on speculative buying supported by rising spot market demand.

At the Multi Commodity Exchange, zinc for delivery in March traded higher by 55 paise, or 0.53%, to Rs 104.05 per kg, with a business turnover of 42 lots.

The February contract inched up by 50 paise, or 0.49%, to Rs 103.05 per kg, with a business turnover of 1,037 lots.

Market analysts attributed rise in zinc futures to a firming trend at the spot markets on the back of pick up in demand.