Zinc up 1% on spot demand, overseas cues

Zinc prices were up by 0.97% to Rs 124.85 per kg in futures trading today as participants built up positions, driven by pick up in demand in the spot market amid firm global trend.

At the Multi Commodity Exchange, zinc for delivery in May rose by Rs 1.20, or 0.97%, to Rs 124.85 per kg, in business turnover of 3,102 lots.

Similarly, the metal for delivery in far-month June traded higher by Rs 1.05, or 0.85%, to Rs 125.10 per kg in 330 lots.

Analysts said traders created fresh positions due to pick up in demand from consuming industries in the spot market and a firm trend in base metals in global markets, mainly led to the rise in zinc prices at futures trade.