Zinc up 0.1% on spot demand

Zinc futures edged up by 0.14% to Rs 140.60 per kg today after speculators enlarged positions on the back of rising demand in domestic spot markets along with a firming trend overseas.

At the Multi Commodity Exchange, zinc for delivery in September moved up by 20 paise, or 0.14%, to Rs 140.60 per kg in a business turnover of 292 lots.

The metal for delivery in October rose by a similar margin to trade at Rs 141.40 per kg with a business turnover of 24 lots.

According to marketmen, apart from improved demand in the spot markets, a firming trend at the London Metal Exchange (LME), where metal rebounded, after dropping the most in 30 months yesterday, as investors speculated that prices fell too far, supported the upside in zinc futures.
 

Globally, zinc for delivery in three months at the LME rose 1% to $2,327 a metric tonne.