Zinc futures rise 1.74% on global cues, spot demand

Zinc prices recovered 1.74 per cent to Rs 183.80 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 Rs 3.15, or 1.74 per cent, to Rs 183.80 per kg, in a business turnover of 853 lots.
The metal for delivery in January rose by Rs 3.10, or 1.71 per cent, to trade at Rs 184.25 per kg in 17 lots.
Globally, zinc advanced 0.9 per cent at the London Metal Exchange.

Marketmen 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.