Zinc up on global cues, domestic demand

Zinc rose by 0.15% to Rs 103.50 per kg in futures trade today largely on the back of a firming trend overseas and good domestic demand.

At the Multi Commodity Exchange, zinc for delivery in July gained 15 paise, or 0.15%, to Rs 103.50 per kg, with a trading volume of 605 lots.

The metal for August delivery also moved up by 15 paise, or 0.14%, to Rs 104.10 per kg, with a trade turnover of 26 lots.

Zinc rose 0.33% to $1,850 per tonne at the London Metal Exchange (LME).

Analysts said a firming trend in copper and other base metals at the LME following data showing that China's inflation cooled down further in June, and pick-up in demand at the domestic spot markets also pushed up zinc futures prices.