Zinc up over 1% in futures trade on global cues

Zinc futures traded 1.10% higher at Rs 101.20 per kg as speculators indulged in enlarging their positions taking cues from positive trend at the London Metal Exchange amid firm spot demand.

At the Multi Commodity Exchange, zinc for delivery in July rose by Rs 1.10, or 1.10% to Rs 101.20 per kg, with a business turnover of three lots.

The metal for May delivery also gained 80 paise, or 0.82% to Rs 98.65 per kg, with a trade volume of 10 lots. At the LME, zinc rose by 0.40% to $2,200 per tonne in early trade today. 

Analysts attributed the rise in zinc futures to a firming trend in the entire base metals at the LME and better demand at the domestic spot markets.