 "Zinc recovers by 0.8% on global cues")
Zinc prices recovered 0.84% to Rs 102.30 per kg in futures trade today as speculators created fresh positions, taking positive cues from the domestic spot market on upsurge in demand.
Besides, firming trend in base metals in global markets supported the upside.
At the Multi Commodity Exchange, zinc for delivery in far-month February rose by 90 paise, or 0.84% to Rs 102.30 per kg in business turnover of 38 lots.
Market analysts attributed the recovery in zinc futures to fresh bets created by participants due to pick up in demand from consuming industries in the spot market and a firm trend in base metals in global markets.
Besides, firming trend in base metals in global markets supported the upside.
At the Multi Commodity Exchange, zinc for delivery in far-month February rose by 90 paise, or 0.84% to Rs 102.30 per kg in business turnover of 38 lots.
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On similar lines, the metal for delivery in January contracts traded higher by 70 paise, or 0.70% to Rs 101.40 per kg in 1,681 lots.
Market analysts attributed the recovery in zinc futures to fresh bets created by participants due to pick up in demand from consuming industries in the spot market and a firm trend in base metals in global markets.