Zinc futures rise 1% on spot demand

Zinc futures Wednesday edged 1 per cent higher to Rs 177.40 per kg as speculators created

positions, triggered by a firm trend in the domestic spot markets on industrial demand.

Besides, a firm trend in the base metals pack in global markert supported the upside.

At the Multi Commodity Exchange, zinc for delivery in current month moved up by Rs 1.75, or 1 per cent, to Rs 177.40 per kg, with a business turnover of 1,917 lots.

Marketmen said widening of bets by participants, following improved demand in the domestic spot market and a better trend in base metals overseas, influenced zinc prices in futures trade.