Zinc up by 0.2% on overseas trend, spot demand

Fresh positions created by speculators on the back of improved demand supported the upside

Supported by a firming trend overseas and pickup in domestic demand, zinc futures today edged up 0.25% as participants built up positions.

At Multi Commodity Exchange, zinc for delivery in August gained 30 paise, or 0.25%, to Rs 121 per kg with a business turnover of 691 lots.

The metal for delivery in September contracts rose by a similar margin to Rs 121.75 per kg in a business turnover of 16 lots.

Traders said fresh positions created by speculators on the back of improved demand at the spot market and gains in base metals in global market, supported the upside in zinc futures.