Don’t miss the latest developments in business and finance.

Zinc futures rise on overseas trend

Image
Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 3:38 AM IST

Zinc prices edged up by Rs 0.55, or 0.64 per cent, to Rs 87 per kg in futures market today, as speculators built up fresh positions, driven by overnight gains at the London Metal Exchange.

Pick up in demand from consuming industries at domestic physical markets too influenced metal prices in futures trade.

On the Multi Commodity Exchange counter, zinc for delivery in July contract traded Rs 0.55, or 0.64 per cent, higher at Rs 87 per kg, with a turnover of 19 lots.

The metal for delivery in August contract also gained by Rs 0.50, or 0.57 per cent, to Rs 88 per kg, in a turnover of 19 lots.

At the London Metal Exchange counter, zinc rose 0.27 per cent to $1,855 per tonne.

Market analysts attributed the recovery in zinc futures prices to overnight gains at the London Metal Exchange and better demand at the domestic spot markets.

More From This Section

First Published: Jul 08 2010 | 1:12 PM IST

Next Story