SG:Indian zinc futures up on spot demand and global cues
ET reported that amid pick up in domestic demand and a firming global trend, zinc prices traded higher by 0.33% to INR 106.50 per kilogram in futures trade.
At the Multi Commodity Exchange, zinc for delivery in October traded higher by 35 paise or 0.33% to INR 106.50 per kilogram with a business turnover of 4,594 lots. Likewise, the metal for delivery in November edged up by 30 paise or 0.28% to 107.30 per kilogram with a business turnover of 157 lots.
Marketmen said that besides pick up in demand in the spot market amid a firm global trend on speculation that moves by central banks around the world will stimulate growth and boost demand for industrial metals helped zinc to trade higher at futures trade here. Meanwhile, zinc gained 0.5% to USD 2,076.25 per tonne on the London Metal Exchange.
