MCX Futures Witness Zinc Gains; May Contracts Up by 0.52%
In a positive trend for the metals market, zinc prices rose marginally by Rs 1.40, reaching Rs 272.05 per kilogram in futures trading on Tuesday, driven by heightened demand from consuming industries.
Trading activity on the Multi Commodity Exchange (MCX) showed zinc contracts set for May delivery climbing 0.52 percent, or Rs 1.40 higher, at Rs 272.05 per kg. The session recorded a modest business turnover of 36 lots.
Market experts attributed the upward momentum to increased spot demand, which encouraged traders to expand their positions. This renewed buying interest from industries utilizing zinc supported the commodity's price in futures markets, reinforcing the positive sentiment.
With spot demand strengthening, market participants expect zinc prices to sustain their upward trajectory in the near term.
