Zinc futures gain 2.49% on upsurge in demand

Zinc prices surged by 2.49 per cent to Rs 191.30 per kg in futures trade today as speculators built up positions following uptick in demand in the spot market.
At the Multi Commodity Exchange, zinc for delivery in August rose by Rs 4.65, or 2.49 per cent to Rs 191.30 per kg in business turnover of 4341 lots.
Likewise, the metal for delivery in September contracts was trading higher by Rs 4.50, or 2.40 per cent to Rs 191.90 per kg in 335 lots.
Analysts said fresh positions created by traders due to pick up in demand from consuming industries in the spot market, mainly led to the rise in zinc prices at futures trade.