Zinc up on spot demand

Firm global trend also pulled zinc prices higher

Zinc traded a shade higher at Rs 104.95 per kg in futures trade today after speculators enlarged positions, driven by spot demand and a firming trend overseas.

On the MCX, zinc for delivery in June edged higher by 30 paise, or 0.29%, to Rs 104.95 per kg, with a trading volume of 884 lots.

The metal for the July delivery also moved up by 30 paise, or 0.28%, to Rs 105.60 per kg, with a trade turnover of 34 lots.

Globally, zinc rose 0.2% to $1,883 per tonne at the London Metal Exchange.

Analysts said besides a firming trend in copper and other base metals at the LME, pick-up in spot markets demand also pushed up zinc futures prices.