Zinc up marginally on spot demand, global cues

October contract rises 0.05%

Amid a firm global trend and better domestic demand, zinc prices traded marginally higher by 0.05% to Rs 103.95 per kg in futures trade today on speculators enlarging positions.

At the Multi Commodity Exchange, zinc for delivery in October edged up by 5 paise, or 0.05%, to Rs 103.95 per kg, with a business turnover of 5,045 lots.

November zinc traded higher by a similar margin to Rs 105 per kg, with a business turnover of 244 lots.

Marketmen said improved demand in the spot market amid a firm global trend led to the rise in zinc futures.

Meanwhile, zinc gained 0.5% to $1,984.25 a tonne on the London Metal Exchange.