Zinc futures recover on global cues
New Delhi, July 7 (PTI) Zinc prices recovered by 0.61 per cent to Rs 106.35 per kg in futures trading today after speculators created fresh positions, tracking gains in base metals overseas. Besides, pick-up in spot demand also influenced the zinc futures prices here. At the Multi Commodity Exchange, zinc for delivery in July traded higher by 65 paise, or 0.61 per cent, to Rs 106.35 per kg, with a business turnover of 1,017 lots. Similarly, the metal for delivery in August rose by 55 paise, or 0.52 per cent, to Rs 107.25 per kg, with a business volume of 10 lots. Market analysts said a firm trend in the base metals at the London Metal Exchange (LME) and pick-up in domestic demand at spot markets, mainly influenced zinc futures prices here. Meanwhile, zinc gained 0.5 per cent to USD 2,392 a tonne at the LME.