Zinc futures rise on global cues, spot demand

Zinc prices recovered 0.56 per cent to Rs 106.95 per kg in futures trading today as speculators created fresh positions after it rallied from the lowest in over five years.
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 60 paise, or 0.56 per cent, to Rs 106.95 per kg in a business turnover of 853 lots.
The metal for delivery in October in restricted activity rose by a similar margin to trade at Rs 108.35 per kg in 39 lots.

Globally, zinc advanced 0.9 per cent from its lowest level since June 2010.
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.