Zinc futures keep head above water

Zinc futures keep head above water

05/04/2017 16:36

Zinc futures rose over 1 per cent during evening trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal buoyed by gains in the steel sector after a cyclone in Australia damaged transport routes for coking coal.

Further, traders eyeing for signs of a pick up in physical activity in China in Q1 and all its credit restraints of the last couple of weeks recede.

At the MCX, zinc futures for April 2017 contract is trading at Rs 180.75 per kg, up by 1.23 per cent, after opening at Rs 179, against a previous close of Rs 178.55. It touched the intra-day high of Rs 181.65 (at 16:32 hours).

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