Ignoring weakening trend at the London Metal Exchange, zinc futures prices rose by 2.72% to Rs 98.15% today largely on the back of better trend at the spot markets on pick-up in demand.
At the Multi Commodity Exchange, zinc for August delivery traded higher by Rs 2.60, or 2.72%, to Rs 98.15 per kg, with a business turnover of 5,709 lots.
September zinc gained Rs 3.60, or 2.69%, to Rs 99.15 per kg, with a trade volume of 305 lots.
Market analysts said besides pick-up in spot demand, covering-up of short positions at prevailing levels helped zinc to trade higher despite weakness in metals at the London Metal Exchange (LME) after Standard and Poor's downgraded the US credit rating.
Meanwhile, zinc traded 1.2% down at $2,173 a tonne at the LME.
