Zinc futures rose by 0.69 per cent to Rs 115.70 per kg in futures trade today as speculators raised positions in the midst of a strong trend overseas. Besides, high demand in domestic spot markets fuelled the uptrend. Zinc futures for February 2016 contract, at MCX, were trading at Rs 116.70 per kg, up by 0.69 per cent after opening at Rs. 116.35 against the previous closing price of Rs. 115.90. It touched the intra-day high of Rs. 116.85 till the trading.
Prices also rose due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 950 metric tonnes to 458725 metric tonnes as on February 15, 2016.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
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