Zinc futures rise 0.26% on overseas cues, spot demand

Tracking gains in base metals overseas and better domestic demand, zinc futures today edged up by 0.26 per cent to Rs 151.85 per kg as speculators enlarged positions.
At the Multi Commodity Exchange, zinc for delivery in August moved up by 40 paise, or 0.26 per cent, to Rs 151.85 per kg, with a business turnover of 284 lots.
The metal for delivery in September too gained 35 paise, or 0.23 per cent, to Rs 152.15 per kg in a business volume of four lots.
Marketmen said improved demand in the spot market amid a firming trend in select base metals overseas as investors focused on a Chinese measure of manufacturing that rose to the highest since February 2015, mainly influenced zinc prices at futures trade here.

Globally, zinc for three-month delivery rose for the third straight session, gaining 1.1 per cent to settle at USD 2,267 per tonne on the London Metal Exchange (LME). It traded near the highest in more than a year.
Meanwhile, stockpiles held in LME-approved warehouses fell for an 18th day.