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Zinc futures up 0.95% on spot demand, global trend

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Press Trust of India New Delhi

Zinc futures traded slightly up by Rs 0.95 or 1.06 per cent at Rs 90.75 per kg, as traders built up positions driven by a firming trend at domestic and global markets.

At the Multi Commodity Exchange, zinc for June contract gained Rs 0.95, or 1.06 per cent to Rs 90.75 per kg, with an open interest of 1,470 lots.

In similar fashion, the metal for delivery in May contract also edged up by Rs 0.80, or 0.90 per cent to Rs 89.70 per kg, with an open interest of 5,927 lots.

At the London Metal Exchange, zinc rose $31, or 1.64 per cent to $1,925 per tonne, while at Shanghai it rose 310 yuan, or 2 per cent to 15,810 yuan per tonne.
    
Analysts said rebound in most of the industrial metals at the London Metal Exchange and Shangahi and pick up in demand for the metal at domestic markets, helped zinc futures to trade higher.

 

 

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First Published: May 24 2010 | 1:03 PM IST

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