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Zinc regains strength on global trend

Rising demand at the domestic spot markets supported the recovery in zinc futures

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Press Trust of India New Delhi

Amid a firming trend in base metals overseas, zinc prices recovered by 0.34% in futures trading today.

Further, rising demand at the domestic spot markets also supported the recovery in zinc futures.

At the MCX, the May delivery traded higher by 35 paise, or 0.34%, to Rs 103.75 per kg, with a business turnover of 1,161 lots.

The June contract edged up by 30 paise, or 0.29%, to Rs 104.45 per kg, with an open interest of 126 lots.

Analysts attributed the recovery in zinc futures to a firming trend in global markets and increased demand in the spot market.

 

Meanwhile, zinc gained 0.40% to $1,907 a tonne on the London Metal Exchange.

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First Published: May 18 2012 | 1:19 PM IST

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