Base Metals & Energy
DAILY BUZZ
ZINC
Zinc
futures edged up by 0.36 per cent to Rs 141.25 per kg today as
speculators enlarged positions on positive cues from global markets
and better domestic demand.
At
the Multi Commodity Exchange, zinc for delivery in September was up
by 50 paise, or 0.36 per cent, to Rs 141.25 per kg, with a business
turnover of 20 lots.
The
metal for delivery in current month also rose by 45 paise, or 0.32
per cent, to Rs 140.70 per kg in a business volume of 233 lots.
Marketmen
said besides improved demand in the domestic spot market, a firming
trend in the metal overseas as stockpiles fell and after a jump in US
home building increased speculation that demand is rising in the
second- biggest user of industrial metals, supported the rise zinc
prices at futures trade here.
Meanwhile,
inventories tracked by the London Metal Exchange fell for the second
day to 736,525 tonnes, according to exchange data.
Globally,
zinc for delivery in three months rose as much as 0.4 per cent to $
2,312 a metric tonne at the LME.
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