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Zinc up 0.60% in futures trade

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Press Trust of India New Delhi

Zinc futures traded 0.60 per cent higher to Rs 100.80 per kg per kg, buoyed by a firming trend at the London Metal Exchange.

In addition, better trend at physical markets on pick up in demand from consuming industries also influenced the prices.

At the Multi Commodity Exchange counter, zinc for delivery in October contract traded 60 paise, or 0.60 per cent higher, to Rs 100.80 per kg, with a turnover of 138 lots.

Similarly, the metal for delivery in September contract also edged higher by 55 paise, or 0.55 per cent, to Rs 99.65 per kg, with a business turnover of 1,486 lots.

 

Analysts said firming trend in base metals in global markets after the US Federal Reserve statement to ease monetary policy further to boost the economy and weakness in dollar against major currencies, influenced zinc futures.  

Meanwhile, the London Metal Exchange-Index of six metals, including copper, jumped 2.2 per cent yesterday to the highest level since April.

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First Published: Sep 23 2010 | 3:44 PM IST

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