Zinc futures up on spot demand, global cues
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Amid a firm global trend and better domestic demand, zinc futures prices today rose by 0.40 per cent to Rs 112.60 per kg today as speculators enlarged their positions.
At the Multi Commodity Exchange, zinc prices for delivery in January edged up by 45 paise, or 0.40 per cent, to Rs 112.60 per kg, with a business turnover of 54 lots.
Likewise, the metal prices for delivery in December traded higher by 40 paise, or 0.36 per cent to Rs 111.90 per kg, with a business turnover of 887 lots.
Marketmen said improved demand in the spot market amid a firming trend in base metals overseas after data showed Chinese manufacturing activity may expand at a faster pace, raising demand outlook for the metals, mainly led to the rise in zinc futures prices.
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