NEW DELHI, Feb 16: Zinc prices edged higher by 0.07 per cent to Rs 229.30 per kg in futures market today as participants built up fresh positions, taking positive cues from the global markets.
Besides, a pick up in demand at spot market too fuelled the uptrend.
At the Multi Commodity Exchange, zinc for delivery in February traded higher by 15 paise, or 0.07 per cent, to Rs 229.90 per kg in business turnover of 863 lots.
Likewise, the metal for delivery in March contracts inched up by 10 paise, or 0.04 per cent, to Rs 229.35 per kg in 50 lots.
Analysts said fresh positions created by traders, driven by a firm global cues amid uptick in demand from consuming industries in the physical market, drove the upside in zinc prices.
Meanwhile, zinc for delivery in three month ended up 0.1 per cent at USD 3,570 a tonne, having earlier hit its highest since July 2007 at USD 3,595.50 a tonne on the London Metal Exchange yesterday. (PTI)
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