Zinc futures prices today edged higher by Rs 0.65 or 0.73 per cent to Rs 89.60 per kg as speculators built up fresh positions on a firming trend at the London Metal Exchange after the US companies lifted profit forecasts, fueling optimism of a global economic recovery.
On the Multi Commodity Exchange counter, zinc for delivery in July contracts traded Rs 0.65 or 0.73 per cent, higher at Rs 89.60 per kg with a turnover of 5,135 lots.
The metal for delivery in August contract also gained by Rs 0.55 or 0.61 per cent to Rs 91.30 per kg, with a turnover of 1,617 lots.
Market analysts attributed zinc futures prices' rebound to overnight gains at the London Metal Exchange where most of base metals gained over 2 per cent on US companies profit forecasts, fueling optimism of a global economic recovery.
