Zinc prices were up 0.64 per cent to Rs 165.50 per kg in futures trade today as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets amid a firm trend overseas.
At the Multi Commodity Exchange, zinc for delivery in December was trading higher by Rs 1.05, or 0.64 per cent, to Rs 165.50 per kg, in a business turnover of 59 lots.
The metal for delivery in November rose Re one, or 0.61 per cent, to trade at Rs 164.90 per kg in 1,009 lots.
Globally, zinc for delivery in three months rose 2.6 per cent to settle at USD 2,458 per tonne at the London Metal Exchange (LME) yesterday, after touching USD 2,479.50, the highest since August 2011.
Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market and metal climbing to over five-year highs at the LME with investors betting that a rebound in demand from China will underpin prices.
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