NEW DELHI, June 20: Tracking a firm global trend, zinc prices were higher by 0.77 per cent to Rs 130.40 per kg in futures trade today as speculators created positions.
Besides, increased demand from consuming industries in the spot market supported the uptrend.
At the Multi Commodity Exchange, zinc for delivery in June rose by Re 1, or 0.77 per cent to Rs 130.40 per kg in business turnover of 1,857 lots.
In a similar fashion, the metal for delivery in July contracts traded higher by the same margin to 131.10 per kg in 231 lots.
Globally, zinc for delivery in three months climbed 0.9 per cent to USD 2,173 a metric tonne, the highest since February 2013 on the London Metal Exchange (LME).
Analysts said fresh positions built-up by speculators in tandem with a firm global trend on concern that supply will remain tight amid falling exchange inventories, mainly led to rise in zinc prices at futures trade.
Meanwhile, stockpiles tracked by the LME have dropped 28 per cent this year to the lowest since December 2010. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel