Zinc futures up 1.88% on firm global cues

Tracking a firm trend overseas along with strong demand in local market, zinc futures prices today traded 1.88 per cent higher at Rs 105.70 per kg.

At the Multi Commodity Exchange counter, zinc delivery for January gained Rs 2.00, or 1.88 per cent to Rs 105.70 per kg, with a turnover of 42 lots.

The metal for delivery in December also traded up by Rs 1.90 or 1.85 per cent to Rs 104.50 per kg, with a business turnover 1,479 lots.

Analysts attributed the rise in zinc futures prices to a firm trend in entire base metals pack overseas, buoyed by a strong Chinese macroeconomic and output data over the weekend.

Meanwhile, at the London Metal Exchange, zinc climbed 2.6 per cent to $2,332 per tonne.