BS: Zinc inches up in futures trade on spot demand
Zinc prices moved up by Rs 0.45, or 0.46 per cent, to Rs 98.45 per kg in the futures market largely in tune with a firming trend at the spot market on pick up in demand.
A better trend in Asian trading following overnight gains in select base metals at the London Metal Exchange after strong US economic data also influenced zinc futures.
Zinc for delivery in September contract traded Rs 0.45, or 0.46 per cent higher at Rs 98.45 per kg, with a turnover of six lots on the Multi Commodity Exchange counter.
The metal for delivery in current month contracts also gained Rs 0.35, or 0.36 per cent, to Rs 97.30 per kg in a turnover of 25 lots.
Market analysts attributed the rise in zinc futures prices to better trend in the spot market on firm demand and higher overseas cues on strong US economic data
