Zinc up by 0.5% on global cues

Zinc futures prices today edged up by 0.55% to Rs 127.50 per kg today as participants created speculative positions, amid a firm global trend and better domestic demand.

At the Multi Commodity Exchange, zinc for delivery this month increased by 70 paise, or 0.55%, to Rs 127.50 per kg, with a business turnover of 225 lots.

Likewise, the metal for delivery in February traded higher by 65 paise, or 0.51%, to Rs 128 per kg in a turnover of 18 lots.

Traders said besides improved spot demand, a firming trend in base metals overseas after a surge in credit growth eased concern that demand will slow in China, the world's top user, mainly led to the rise in zinc prices at futures trade here.