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Zinc futures surge 0.79% on overseas cues

Zinc futures surge 0.79% on overseas cues

Zinc futures grew during evening trade in the domestic market on Tuesday as investors & speculators extended their positions in the industrial metal on US dollar weakness amid concerns of US protectionism under the new President Donald Trump.

The dollar weakened on concerns about the impact of US President’s protectionist trade stance as he formally withdrew the US from the Trans-Pacific Partnership on Monday, saying he would seek one-on-one trade deals with countries that would allow Washington to quickly terminate them ‘if somebody misbehaves’.

At the MCX, zinc futures for January 2017 contract is trading at Rs 191.15/kg, upward by 0.79 %, after opening at Rs 189.90, against a last close of Rs 189.65. It touched the intra-day max of Rs 191.40

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