Zinc futures strengthen on global cues

Buoyed by the firming trend in the entire base metals pack at the London Metal Exchange (LME) and strong domestic demand, zinc futures prices rose by 1.07 per cent to Rs 104.20 per kg today.

At the Multi Commodity Exchange counter, zinc for delivery in February traded Rs 1.10, or 1.07 per cent higher, at Rs 104.20 per kg, with a business turnover of five lots.   

The metal for January delivery also gained Rs 1.05, or 1.03 per cent, to Rs 102.85 per kg, with a business volume of 19 lots.

Market analysts attributed the rise in zinc futures to firming trend in the entire base metals at the LME.  

At the LME, zinc was trading marginally higher at $2,276 per tonne.