Zinc futures gains on spot demand

PTI New Delhi | Updated on February 18, 2011

Tracking firm global cues, zinc prices inched up by 0.35 per cent to Rs 113.60 per kg at the futures trade today on emergence of buying at lower levels. Increased domestic demand against restricted supply in the spot market further fuelled the uptrend.

At the Multi Commodity Exchange, zinc for February delivery inched up by 40 paise or 0.35 per cent to Rs 113.60 per kg with a business turnover of 12 lots. Likewise, March contract fell by 35 paise or 0.31 per cent to Rs 114.65 per kg in six lots.

Market analysts attributed the rise in zinc futures prices to rising demand at the domestic spot market amid a firming trend on the London Metal Exchange.

Meanwhile, zinc was up by 1.3 per cent to $2,544 per tonne on the LME.

Published on February 18, 2011

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