Zinc prices up

Zinc futures prices on Monday moved up to 0.4 per cent as traders indulged in covering-up of short positions on good demand in the physical markets and firming trend overseas.
At the Multi Commodity Exchange counter, zinc for delivery in December traded higher by Rs 0.45, or 0.4 per cent, to Rs 112.70 per kg with an open interest of 4,809 lots.
January contract also moved up by Rs 0.35 or 0.31 per cent to Rs 113.05 per kg with an open interest of 1,039 lots.
Market analysts said the rise in zinc prices at futures market was mostly supported by covering-up of short positions by traders and firm trend in the spot markets on good demand from consuming industries.
Besides, firming trend at the London Metal Exchange also influenced prices, they said.
Meanwhile, at the LME zinc rose 0.42 per cent to $2,415 per tonne. — PTI
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