Commodities

Zinc strengthens on firm global cues

PTI New Delhi | Updated on February 03, 2011

Buoyed by a firming trend in base metals overseas on expectations of pick up in demand, zinc futures today traded 0.40 per cent higher at the Multi Commodity Exchange (MCX).

Better trend at the spot markets on the back of pick up in demand influenced zinc futures here.

At the MCX, zinc for delivery in February traded 45 paise or 0.40 per cent higher at Rs 113.40 a kg, clocking a business turnover of two lots.

The metal for March delivery also gained 45 or 0.39 per cent to Rs 114.35 a kg, with a business volume of three lots.

Globally, zinc gained 0.5 per cent to $2,488 a tonne at the London Metal Exchange (LME).

Analysts attributed the rise in futures to a firming trend in copper and other base metals at LME on expectations of pick up in global demand and improved manufacturing.

Published on February 03, 2011

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