ZINC FUTURES RISE ON SPOT DEMAND, GLOBAL TREND
23rd March – 2012
Zinc prices edged up by 0.64 per cent to Rs 102.55 per kg in futures trade today, after speculators created fresh positions, supported by firming global trend and rising domestic demand.
At the Multi Commodity Exchange, zinc for delivery in March traded higher by 65 paise, or 0.64 per cent, to Rs 102.55 per kg, with a business turnover of 648 lots.
Similarly, the metal for delivery in April inched up by 60 paise to, Rs 103.50 per kg, with a business turnover of 73 lots.
Analysts attributed rise in zinc futures to a firming trend at the London Metal Exchange (LME) and pick up in domestic demand.
At the LME, zinc gained 1.1 per cent to USD 2,007 per tonne in early trade today.
At the Multi Commodity Exchange, zinc for delivery in March traded higher by 65 paise, or 0.64 per cent, to Rs 102.55 per kg, with a business turnover of 648 lots.
Similarly, the metal for delivery in April inched up by 60 paise to, Rs 103.50 per kg, with a business turnover of 73 lots.
Analysts attributed rise in zinc futures to a firming trend at the London Metal Exchange (LME) and pick up in domestic demand.
At the LME, zinc gained 1.1 per cent to USD 2,007 per tonne in early trade today.
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