Zinc futures rise 0.53% on uptick in demand

Zinc prices rose 0.53 per cent to Rs 226.30 per kg in futures trade today as participants built up fresh positions, taking positive cues from the domestic spot market on pick up in demand.
Covering-up of short positions by speculators and positive overseas cues too supported the upside.
At the Multi Commodity Exchange, zinc for delivery in February edged up Rs 1.20, or 0.53 per cent, to Rs 226.30 per kg, in a business turnover of 873 lots.
Likewise, the metal for delivery in January traded higher by Rs 1.05, or 0.46 per cent, at Rs 227.80 per kg in 959 lots.

Analysts said apart from covering-up short positions by speculators, rising demand from consuming industries in the spot market, drove the upside in zinc prices.