Business Standard

Zinc futures up on global cues, spot demand

Image

Press Trust of India New Delhi

Zinc traded higher by almost one per cent to Rs 101.85 per kg in futures market today, largely supported by a firming trend overseas and pick-up in demand at the domestic markets.

At the Multi Commodity Exchange, zinc for delivery in May rose by Re 1, or nearly one per cent to Rs 101.85 per kg, with a business volume of 1,953 lots.

Similarly, the metal for delivery in April inched up by 70 paise, or 0.70% to Rs 100.05 per kg, with an open interest of 2,356 lots.

Market analysts said apart from a firming trend at the London Metal Exchange (LME), pick-up in demand at the spot markets also led to the rise in zinc futures prices.

 

Meanwhile, zinc gained 1.9% to $2,282 a metric tonne at the LME.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 28 2011 | 1:06 PM IST

Explore News