Zinc futures marginally up on overseas cues

Zinc futures prices today edged up by 0.29% to Rs 138.15 per kg as participants enlarged positions amid a firming trend at the London Metal Exchange and rising spot demand.

 

At the Multi Commodity Exchange, zinc for delivery in September moved up by 40 paise, or 0.29%, to Rs 138.15 per kg, with a business turnover of 200 lots.

 

The metal for delivery in October also rose marginally by 35 paise, or 0.25%, to Rs 138.90 per kg in a business volume of five lots.

 

Marketmen said fresh positions created by participants on firming trend in the base metals pack overseas on speculation that recent losses were excessive and pick up in spot demand, supported the rise in zinc futures.