Spot demand lifts zinc futures by 0.58%

Zinc prices inched up by 0.58 per cent to Rs 200.05 per kg in futures market today as traders created fresh positions following upsurge in demand at the spot market.
Covering up of pending short positions by speculators too supported the rise in prices.
At the Multi Commodity Exchange, zinc for delivery in December month traded higher by Rs 1.15, or 0.58 per cent to Rs 200.05 per kg in business turnover of 366 lots.
In a similar fashion, the metal for delivery in January contracts was trading higher by Rs 1.05, or 0.53 per cent to Rs 200.10 per kg in six lots.

Market analysts attributed the rise in zinc futures to pick-up in demand from consuming industries at the spot market.