Zinc up on spot demand

| | Updated on: Apr 28, 2011

Zinc traded higher by almost one per cent to Rs 101.85 a kg in futures market today, largely supported by a firming trend overseas and pick up in demand at the domestic markets.

At the Multi Commodity Exchange, zinc for delivery in May rose by Re 1, or nearly one per cent to Rs 101.85 a kg, with a business volume of 1,953 lots.

Similarly, the metal for delivery in April inched up by 70 paise or 0.70 per cent to Rs 100.05 a kg with an open interest of 2,356 lots.

Market analysts said apart from a firming trend at the London Metal Exchange (LME), pick up in demand at the spot markets also led to the rise in futures prices.

Meanwhile, zinc gained 1.9 per cent to $2,282 a tonne at the LME.

Published on April 28, 2011

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