Zinc futures up 1.25% on spot demand, overseas cues

Zinc prices were up by 1.25 per cent to Rs 157.40 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 November rose by Rs 1.95, or 1.25 per cent, to Rs 157.40 per kg, in a business turnover of 306 lots.

Similarly, the metal for delivery this month traded higher by Rs 1.90, or 1.23 per cent, to Rs 156.75 per kg in 930 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 market, mainly led to the rise in zinc prices at futures trade.