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Zinc gains 0.13% on high demand

By Religare
|

Zinc futures rose by 0.13 per cent to Rs 119.55 per kg in futures trade today as speculators increased positions in the midst of a strong trend overseas. Besides, high demand in domestic spot markets fuelled the uptrend. Zinc futures for August 2015 contract, at MCX, were trading at Rs 119.55 per kg, up by 0.13 per cent after opening at Rs. 119.20 against the previous closing price of Rs. 119.40. It touched the intra-day high of Rs.119.60 till the trading. (At 4.00 PM today).

 

However, gains were curbed due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 1201 metric tonnes to 462926 metric tonnes as on August 17, 2015.

Story first published: Monday, August 17, 2015, 23:00 [IST]
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