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Zinc futures marginally up on firm global cues
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New Delhi, June 18 (PTI) Zinc futures traded a shade higher in early trade on the Multi Commodity Exchange today as traders created fresh positions, buoyed by a firming trend in metal prices globally.
Increased demand for the metal in the spot markets also helped zinc prices move up in futures trade. At 1100 hrs on the MCX, zinc for the most-active June-month contract was trading 0.47 per cent higher at Rs 74.30 per kg, with an opening position of 5,915 lots. The metal for delivery in July also inched up by 0.35 per cent to Rs 75.25 per kg in, having an opening position of 1,050 lots. At the London Metal Exchange, zinc climbed 0.64 per cent to USD 1,565 a tonne last evening. According to analysts, overnight firmness in copper and other base metals at the LME, mainly influenced the zinc prices at the futures market here. They said weak USD, which makes dollar-denominated commodities including metals cheaper, also supported the rise in prices.
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