Zinc futures up on spot demand, global cues

Amid a firm global trend and better domestic demand, zinc futures prices rose by 0.50 per cent to Rs 111.65 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, zinc for delivery in December edged up by 55 paise, or 0.50 per cent, to Rs 111.65 per kg, with a business turnover of 1,814 lots. Likewise, the metal for delivery in January traded higher by 55 paise to Rs 112.20 per kg, with a business turnover of 68 lots.

Marketmen said improved demand in the spot market amid a firming trend in base metals overseas after data showed Chinese manufacturing activity had picked up pace in November, mainly led to rise in zinc futures.

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