Business Standard

Zinc gains 0.5% on spot demand, global cues

Positive data from China influences prices

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Press Trust of India New Delhi

Amid pick up in domestic demand and a firming global trend, zinc prices rose by 0.50% to Rs 101 per kg in futures trade today.

At the Multi Commodity Exchange, zinc for delivery in October traded higher by 50 paise, or 0.50%, to Rs 101 per kg, with a business turnover of 1,686 lots.

November zinc edged up by 40 paise, or 0.39%, to 102.30 per kg, with a business turnover of 209 lots.

Marketmen said besides pick up in demand in the spot market, a firm global trend after data showed China's industrial production, retail sales and fixed-asset investment accelerated in September, boosted demand outlook for industrial metals, helping zinc to trade higher at futures trade here.

 

Meanwhile, zinc gained 0.4% on the London Metal Exchange.

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First Published: Oct 18 2012 | 2:02 PM IST

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