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Zinc extend gains in futures trade, rises 0.41%

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Press Trust of India New Delhi

Continuing its gains, zinc improved by Rs 0.35, or 0.41 per cent, to Rs 85.80 per kg on the back of covering up of short positions by speculators amid better demand at physical markets.

At the Multi Commodity Exchange counter, zinc for June contract gained Rs 0.35, or 0.41 per cent, to Rs 85.80 per kg, with a turnover of 893 lots.

Similarly, the metal for delivery in July contract traded higher by Rs 0.30, or 0.35 per cent, to Rs 87 per kg, with a business volume of 158 lots.

Market analysts said covering-up of short positions by speculators ahead of monthly expiry, pick up in spot demand at physical markets also supported the upside in zinc futures prices.

 

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First Published: Jun 28 2010 | 1:12 PM IST

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