NEW DELHI, July 15: Zinc prices rose by 0.42 per cent to Rs 131.20 per kg in futures trading today in tandem with a firming trend overseas.
Besides, increased demand from consuming industries in spot markets supported the uptrend.
At the Multi Commodity Exchange, zinc for delivery in current month was trading higher by 55 paise, or 0.42 per cent, to Rs 131.20 per kg in a business turnover of 333 lots.
The metal for delivery in August in restricted activity gained 50 paise, or 0.38 per cent, to trade at Rs 131.85 per kg in volume of just six lots.
Market analysts attributed the rise in zinc futures to fresh positions created by participants on the back of a firm global trend as Chinese economic data came in ahead of estimates.
Chinese gross domestic product expanded 7 per cent in the second quarter from a year earlier, beating estimates for a 6.8 per cent increase, while June industrial-production and retail-sales growth topped economists’ projections.
Meanwhile, zinc for delivery in three months added 0.8 per cent on the London Metal Exchange, advancing for the sixth day. (PTI)
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