Zinc up by 0.9% on overseas cues, spot demand

Improved demand in the spot market amid a firming trend in base metals overseas influenced zinc prices

Zinc futures prices today edged up by 0.90% to Rs 112.10 per kg amid a firm global trend and better domestic demand, as speculators enlarged positions.

 

At the Multi Commodity Exchange, zinc for delivery in August edged up by 90 paise, or 0.90%, to Rs 112.10 per kg, with a business turnover of 542 lots.

 

The metal for delivery in July also rose by 80 paise, or 0.73%, to Rs 110.50 per kg , with a business turnover of 54 lots.

 

In the international market, zinc climbed 0.4% to $1,843 a tonne at the London Metal Exchange.

 

 

Marketmen said improved demand in the spot market amid a firming trend in base metals overseas on speculation that China's determination to stabilise growth will help boost demand, influenced metal prices at futures trade.