Zinc in firm gear on upbeat physical demand

Zinc futures rose during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.

 

However, caution ahead of China’s second quarter GDP data on Friday which may show the weakest pace of expansion in the world’s second biggest economy since the 2009 global financial crises at 6.6 per cent curbed gains in the metal.

 

At the MCX, zinc futures for July 2016 contract is trading at Rs 144.80 per kg, up by 0.63 per cent, after opening at Rs 144.35, against a previous close of Rs 143.90. It touched the intra-day high of Rs 145.10.

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