Global cues, spot demand lifts zinc futures by 1.20 pc

Zinc futures traded higher by 1.20 per cent to Rs 139.10 per kg today as traders enlarged their positions following uptick in demand in the spot markets coupled with a firm trend at the London Metal Exchange.
At the Multi Commodity Exchange, zinc for delivery in current month traded higher by Rs 1.65 or 1.20 per cent to Rs 139.10 per kg in a business turnover of 849 lots.
Likewise, the metal for delivery in July edged up by Rs 1.60 or 1.16 per cent to Rs 139.60 per kg in 32 lots.
Market analysts attributed the rise in zinc futures to a firm trend at spot market on pick up in demand from consuming industries and a firming trend overseas where it climbed to highest level in almost 11 months as industrial metals strengthened, spurred by an improving trade outlook in China and monetary stimulus by the European Central Bank.

At the LME, zinc for delivery in three months climbed 1.6 per cent to USD 2,095 per tonne.