Zinc rises 0.29% on global cues, spot demand

Speculators create fresh positions as metal gains 0.4% on LME

Zinc prices recovered 0.29 per cent to Rs 103.45 per kg in futures trading today as speculators created fresh positions, taking positive cues from the overseas markets.

Besides, increased demand from consuming industries in the spot market supported the uptrend.

At the Multi Commodity Exchange, zinc for delivery in the current month was trading higher by 30 paise, or 0.29 per cent, to Rs 103.45 per kg in a business turnover of 213 lots.

December zinc rose by 25 paise to trade at Rs 104.45 per kg in 4 lots.

Globally, zinc advanced 0.4 per cent at the London Metal Exchange.
 
Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of a firm global trend and pick-up in demand at the domestic spot market.