Zinc remains up in futures trade on global cues

New Delhi, Oct 7 Zinc prices today rose up to 0.50 per cent on the Multi Commodity Exchange as traders enlarged their positions, supported by overnight gains at London Metal Exchange on signs of recovery in global economy amid weakening US currency. Firming trends in global equity markets also influenced the base metal prices.
At the MCX, zinc for delivery in November gained 0.39 per cent at Rs 89.25 per kg, in a turnover of 427 lots. The October contract for metal also gained 0.39 per cent at Rs 89.25 per kg, clocking a turnover of 26 lots. Market analysts said firming trend in copper and other industrial metals on hopes of pick up in demand after signs of economic recovery and weakening US dollar against basket of currencies mainly attributed rise in zinc prices at futures market here. Besides, firming trend in spot markets on the back of good demand from consuming industries also supported the rise, they said. Meanwhile, zinc prices shot up by 2.30 per cent to USD 1,915 per tonne at LME in yesterday&aposs trade.
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