Zinc futures zoom 2.08% as demand picks up

Zinc futures zoom 2.08% as demand picks up

21/11/2016 11:05

Zinc futures surge over 2 per cent during morning trade in the domestic market on Monday as investors and speculators built up fresh positions in the industrial metal amid uptick in physical demand for zinc from major consuming industries at the domestic spot market.

Further, Zinc prices were up led by widening of positions by traders in the industrial metal amid rise in physical demand from alloy-makers at the domestic spot markets. At the MCX, zinc futures for November 2016 contract is trading at Rs 176.40 per kg, up by 2.08 per cent, after opening at Rs 175, against a previous close of Rs 172.80. It touched the intra-day high of Rs 176.45 (at 11:05 hours).

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