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Lead prices strengthened by 0.54 per cent in futures trade today supported by covering up of short positions by speculators and a firming trend overseas.
At the Multi Commodity Exchange, lead for delivery in April traded higher by 65 paise or 0.54 per cent to Rs 120.35 a kg, with a business turnover of two lots.
Similarly, the metal for delivery in March gained 60 paise or 0.50 per cent to Rs 120.75 a kg, with a business volume of six lots.
At the London Metal Exchange (LME), lead gained 0.2 per cent to $2,650 a tonne.
Market analysts said besides covering up of short positions by speculators, a firming trend in copper and other base metals at the LME influenced prices.
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