Zinc futures up 0.88% on spot demand, overseas cues

Supported by rising demand at the domestic spot market and a firming trend overseas, zinc futures today edged up by 0.88 per cent after speculators built up fresh positions.

At the Multi Commodity Exchange, zinc for delivery in February increased by Re 1, or 0.88 per cent, to Rs 114.40 per kg, with a business turnover of 121 lots.

Similarly, the metal for delivery in March traded higher by 55 paise, or 0.49 per cent, to Rs 113.85 per kg, in a turnover of two lots.

Traders said improved spot demand coupled with a firming trend in base metals at the London Metal Exchange (LME) mainly supported the upside in zinc futures prices here.
 

Globally, zinc advanced by 1.5 per cent to USD 1,672 per tonne at the LME.