Zinc up by 1% on subdued demand

Zinc futures prices today rose by 1% to Rs 121 per kg as speculators enlarged positions, tracking a firming trend overseas.

 

At the Multi Commodity Exchange, zinc prices for delivery in October up by Rs 1.20, or 1%, to Rs 121 per kg in business turnover of six lots.

 

Likewise, the metal prices for delivery in September gained Rs 1.15, or 0.97% to Rs 119.55 per kg in 208 lots.

 

Analysts said besides domestic demand in the spot market, a firming trend in base metals overseas driven by upbeat Chinese economic data and easing concerns over Syria, mainly supported the upside in zinc futures here.