Zinc futures strengthen on global cues

Tracking the firming trend in base metals overseas, zinc futures today traded 1.04 per cent higher at Rs 107.20 per kg.

Better trend at the spot market on the back of pick up in demand also influenced zinc futures here.

At the Multi Commodity Exchange, zinc for delivery in January traded Rs 1.10, or 1.04 per cent higher, at Rs 107.20 per kg, with a turnover of 972 lots.

The metal for February delivery also gained Rs 1.10, or 1.03 per cent, to Rs 108.20 per kg, with a business volume of 972 lots.

Analysts attributed the rise in zinc futures to firming trend in the entire base metals at the London Metal Exchange on fading fears of China tightening monetary policy.

Besides, firming trend at the spot market also supported the rise, they said.