Zinc futures surge 1.95% on uptick in demand

Zinc futures surge 1.95% on uptick in demand

09/05/2017 16:23

Zinc futures rose over 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal on upsurge in physical demand from consuming industries.

However, a sharp drop in imports to China, the world’s biggest consumer, and high inventories, restricted further rise in zinc prices.

At the MCX, zinc futures for May 2017 contract is trading at Rs 170.10 per kg, up by 1.95 per cent, after opening at Rs 167.15, against a previous close of Rs 166.85. It touched the intra-day high of Rs 170.25 (at 16:24 hours).

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