Zinc futures extend gains up to 0.83% on strong demand

Zinc prices rose further by 0.83 per cent to Rs 126.85 per kg in futures trade today as traders raised their bets, driven by uptick in demand in the spot market.
At the Multi Commodity Exchange, zinc for delivery in May month gained Rs 1.05, or 0.83 per cent to Rs 126.85 per kg in business turnover of 1,594 lots.
On similar lines, the metal for delivery in far-month June contracts edged up by a similar margin to Rs 126.90 per kg in 394 lots.
Analysts said increasing of positions by participants following upsurge in demand from consuming industries in the spot market amid a firm trend overseas kept zinc prices higher at futures trade.