Zinc prices went up by 1.21 per cent to Rs 176.35 per kg in the futures market today as participants built up fresh positions, taking positive cues from spot market on rise in demand amid higher Asian cues.
At the Multi Commodity Exchange, zinc for delivery in August rose by Rs 2.10, or 1.21 per cent, to Rs 176.35 per kg in a business turnover of 2,009 lots.
Similarly, the metal for delivery in September contracts gained Rs 2, or 1.15 per cent, to Rs 176.50 per kg in 148 lots.
Traders said fresh positions created by participants, tracking a firm trend at the spot markets following pick up in demand from consuming industries and firm trend in Asian markets led to a rise in zinc prices in futures trade.
Meanwhile, in Asian trade, Shanghai zinc climbed 2.6 per cent to a one-week high of 21,190 yuan a tonne as is up 6.3 per cent this week, which would be its biggest weekly jump since the week ended August 18, 2017. It lost 7.5 per cent last week.
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