Zinc futures up on overseas cues

Zinc futures were today up 0.62 per cent to Rs 178.30 per kg as participants enlarged positions amid a firming trend overseas and better domestic demand.
In futures trading, zinc for delivery in November was trading higher by Rs 1.10, or 0.62 per cent, to Rs 178.30 per kg in 1,018 lots at the Multi Commodity Exchange.
Metal for delivery in December was also higher by 95 paise, or 0.53 per cent, to Rs 179.05 per kg, with a business turnover of 453 lots.
The rise in zinc prices at futures trade was mostly attributed to widening of positions by participants, driven by a firming trend at the London Metal Exchange (LME), spurred by prospect of weighty infrastructure spending in China.

Globally, zinc rose as much as 2.8 per cent to USD 2,679 per tonne at the LME, the highest since January 2010.