Zinc Futures Rise on Global Cues
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Zinc futures prices increase over 1% to Rs 372.70/kg on MCX, driven by positive global cues and strong demand in London Metal Exchange.
New Delhi, Jun 2 (PTI) Zinc prices gained more than 1 per cent to Rs 372.70 per kilogram in futures trade on Tuesday, tracking a firm trend in the global markets.
On the Multi Commodity Exchange, the most-traded for June delivery rose by Rs 5, or 1.36 per cent, to Rs 372.70 per kilogram in a business turnover of 2,738 lots.
Traders said fresh positions built up by participants, supported by positive overseas cues, lifted zinc prices in the domestic futures trade.
In the international markets, zinc futures on the London Metal Exchange (LME) advanced by USD 57.65, or 1.61 per cent, to USD 3,629.80 per metric tonne.
Analysts said optimism over industrial metals demand and strength in base metal prices on the LME supported sentiment in the domestic market.
The rise in overseas prices provided further support to zinc futures, they added.
On the Multi Commodity Exchange, the most-traded for June delivery rose by Rs 5, or 1.36 per cent, to Rs 372.70 per kilogram in a business turnover of 2,738 lots.
Traders said fresh positions built up by participants, supported by positive overseas cues, lifted zinc prices in the domestic futures trade.
In the international markets, zinc futures on the London Metal Exchange (LME) advanced by USD 57.65, or 1.61 per cent, to USD 3,629.80 per metric tonne.
Analysts said optimism over industrial metals demand and strength in base metal prices on the LME supported sentiment in the domestic market.
The rise in overseas prices provided further support to zinc futures, they added.
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