Zinc futures rise 0.53% as speculators widen positions

Zinc prices were up 0.53 per cent to Rs 151.30 per kg in futures trade today as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets.
Besides, gains in select base metals in the global market supported the upmove in metal.
At the Multi Commodity Exchange, zinc for delivery in August was trading higher by 80 paise, or 0.53 per cent, to Rs 151.30 per kg in a business turnover of 1,294 lots.
The metal for delivery in September rose by a similar margin to trade at Rs 151.65 per kg in 43 lots.

Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market and metal's strength overseas.