Zinc futures up on firm spot demand, global cues

NEW DELHI, Oct 10:  Zinc futures prices edged up by 0.51 per cent to Rs 117.55 per kg today, largely on firm demand at domestic markets amid a firming trend overseas.

            At the Multi Commodity Exchange, zinc for delivery in November increased by 60 paise, or 0.51 per cent, to Rs 117.55 per kg, with a business turnover of one lot.

            Likewise, the metal for delivery in October traded higher by 50 paise, or 0.43 per cent, to Rs 116 per kg in a turnover of 317 lots.

            Traders said besides improved spot demand, a firming trend in copper and other base metals overseas, on optimism that US lawmakers will reach a deal to raise the debt limit, easing concern that global growth will slow, helped zinc to trade in positive zone at futures trade here. (PTI)