Zinc up marginally on spot demand

Firm global cues push up October contract by 0.1%

Amid a firm global trend and better domestic demand, zinc futures prices rose marginally by 0.10% to Rs 98.65 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, zinc for delivery in October edged up by 10 paise, or 0.10%, to Rs 98.65 per kg, with a business turnover of 2,198 lots.

November zinc traded higher by a similar margin to Rs 100.25 per kg, with a business turnover of 282 lots.

Marketmen said improved demand in the spot market amid a firming trend in base metals overseas after data showed China's imports gained last month, led to the rise in zinc futures.