Zinc futures rise 0.70% on global cues, spot demand

Zinc prices recovered 0.70 per cent to Rs 136.65 per kg in futures trade today as speculators created fresh positions, taking positive cues from the overseas markets.
Besides, increased demand from consuming industries in the spot market supported the uptrend.
At the Multi Commodity Exchange, zinc for delivery in the current month was trading higher by 95 paise, or 0.70 per cent, to Rs 136.65 per kg, in a business turnover of 1,205 lots.
The metal for delivery in July rose by a similar margin to trade at Rs 136.85 per kg in 170 lots.
Globally, zinc advanced 0.4 per cent at the London Metal Exchange.

Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of a firm global trend and pick-up in demand at the domestic spot market.