Monday, November 29, 1999

Zinc futures up on spot demand, overseas trend

News posted by www.newsinfoline.com

New Delhi, May 10 (PTI) Zinc futures traded slightly up by Rs 0.90, or 0.94 per cent at Rs 96.85 per kg, as traders enlarged positions driven by a firming trend at domestic and global markets. At the Multi Commodity Exchange, zinc for June contract gained Rs 0.90 or 0.94 per cent to Rs 96.85 per kg, with a turnover of 85 lots, while delivery in current-month May gained Rs 0.90. The metal for delivery in current-month May contract also edged up by Rs 0.85, or 0.89 per cent to Rs 96.15 per kg in a business turnover of 1,272 lots. At the London Metal Exchange, zinc rose USD 30, or 1.43 per cent to USD 2,121 per tonne, while at Shanghai it rose 145 yuan, or 0.87 per cent to 16,800 yuan per tonne. Analysts said, besides pick up in demand at domestic spot markets from consuming industries, reports of firming trend at the London Metal Exchange and Shanghai on easing Greece''s debt crisis helped zinc prices to rise at futures market here. PTI SUN RS DP.

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