Zinc up marginally on spot demand, global cues

May, June contracts gain 0.24% and 0.1% respcetively, as metal firms up abroad on hopes of higher Chinese demand

Amid a firm global trend and better domestic demand, zinc futures prices rose marginally by 0.24 per cent to Rs 103.35 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, zinc for delivery in May edged up by 25 paise, or 0.24 per cent, to Rs 103.35 per kg, with a business turnover of 588 lots.

June zinc traded higher by 10 paise, or 0.10 per cent, to Rs 102.45 per kg in a turnover of 23 lots.

Marketmen said besides improved demand in the spot market, firming trend in base metals overseas on speculation that demand may rise in China, the biggest consumer of metals, mainly led to rise in zinc prices at futures trade here.