Spot demand, global cues lift zinc futures by 0.24%

Zinc futures traded higher by 0.24 per cent to Rs 210.90 per kg today as traders enlarged 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 December traded higher by 50 paise, or 0.24 per cent, to Rs 210 per kg, in a business turnover of 31 lots.
Likewise, the metal for delivery in current month edged up by 40 paise, or 0.19 per cent, to Rs 210.90 per kg in 446 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 supported by its own fundamentals, as supply from top producer and consumer China has been impacted by environmental inspections and strength in Chinese steel prices.

At the London Metal Exchange, zinc for delivery in three months climbed 1.3 per cent, to USD 3,231.50 per tonne.