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Zinc rises marginally on global cues

September contract rises 0.49%

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Press Trust of India New Delhi

In range-bound movements, zinc futures traded 0.49% higher at Rs 103.10 per kg today, largely in tandem with a firming trend in the base metals at the London Metal Exchange (LME).

At the Multi Commodity Exchange, zinc for delivery in September inched up by 50 paise, or 0.49%, to Rs 103.10 per kg, with a business turnover of 125 lots.

The August contract traded higher by 40 paise, or 0.39%, to Rs 102.25 per kg in a turnover of 2,398 lots.

Analysts said gains in base metals at the LME amid speculation the European Central Bank will do more to contain the debt crisis raised the demand outlook for commodities, influencing zinc futures prices.

 

Meanwhile, zinc advanced 0.1% to $1,824 a tonne at the LME.

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First Published: Aug 02 2012 | 2:40 PM IST

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