Zinc up in futures trade on spot demand, overseas trend
Press Trust of India / New Delhi Sep 01, 2010, 13:39 IST
Zinc futures today rose by Rs 1.25, or 1.28 per cent, to Rs 98.60 per kg today, taking cues from firming overseas markets after China's manufacturing grew at faster pace.
In addition, pick up in demand at the spot markets also supported the upside in the metal prices at futures market.
At the Multi-Commodity Exchange (MCX) platform, zinc contract for delivery in September traded Rs 1.25, or 1.28 per cent, higher at Rs 98.60 per kg, with a turnover of 4,221 lots.
The delivery in October contract also gained Rs 1.15, or 1.17 per cent, at Rs 99.50 per kg, with a turnover of 380 lots.
Market analysts said apart from strong demand at physical markets, reports that the China's manufacturing expanded at a faster pace in August, raising hopes of pick up in global demand, also helped zinc prices to rise at futures trade here.
Content Guide
Zinc futures today rose by Rs 1.25, or 1.28 per cent, to Rs 98.60 per kg today, taking cues from firming overseas markets after China's manufacturing grew at faster pace.
