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Zinc rises 0.65% in futures trade

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:04 AM IST

Zinc futures prices today edged higher by Rs 0.65 or 0.73 per cent to Rs 89.60 per kg as speculators built up fresh positions on a firming trend at the London Metal Exchange after the US companies lifted profit forecasts, fueling optimism of a global economic recovery.

On the Multi Commodity Exchange counter, zinc for delivery in July contracts traded Rs 0.65 or 0.73 per cent, higher at Rs 89.60 per kg with a turnover of 5,135 lots.

The metal for delivery in August contract also gained by Rs 0.55 or 0.61 per cent to Rs 91.30 per kg, with a turnover of 1,617 lots.

Market analysts attributed zinc futures prices' rebound to overnight gains at the London Metal Exchange where most of base metals gained over 2 per cent on US companies profit forecasts, fueling optimism of a global economic recovery.

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First Published: Jul 23 2010 | 12:22 PM IST

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