Zinc futures up 0.71% on firm global cues

Zinc futures prices edged up by 0.71 per cent to Rs 106.95 per kg, tracking a firm trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, zinc prices for delivery in February traded higher by paise 75, or 0.71 per cent, to Rs 106.95 per kg, with a business turnover of just two lots.

Likewise, the metal for delivery in December month was enquired higher by paise 40, or 0.38 per cent, to Rs 104.60 per kg, with a business turnover of 24 lots.

Analysts attributed the rise in zinc futures prices to a firm trend overseas, where the entire base metals pack surged on optimism over US economic recovery remaining on track, which in turn boosted the demand outlook for the metal.

Meanwhile, zinc advanced 0.5 per cent to $2,299.25 a tonne at the LME.