Zinc futures rise 0.23% on spot demand, global cues

NEW DELHI: Supported by rising demand at the domestic spot market, zinc futures today edged up by 0.23 per cent to Rs 153.10 per kg as speculators enlarged positions.

At the Multi Commodity Exchange, zinc for delivery in the current month moved up by 35 paise or 0.23 per cent to Rs 153.10 per kg with a business turnover of 983 lots.

The metal for delivery in September was trading higher by 15 paise or 0.10 per cent to Rs 153.25 per kg in 17 lots.

Marketmen said improved demand in the domestic spot market and a firming trend in the base metals at the London Metal Exchange after the US dollar weakened on speculation that the Federal Reserve will be slow to raise interest rates mainly influenced zinc prices at futures trade.