Commodities

Lead futures strengthens on firm LME cues

PTI New Delhi | Updated on January 31, 2011 Published on January 31, 2011

Lead futures prices edged up by 1.23 per cent today, as speculators enlarged their positions, driven by a firming trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for February contract gained Rs 1.40 or 1.23 per cent to Rs 115.20 per kg with a trade turnover of 15 lots. Similarly, the metal for delivery in January also gained Rs 1.35 or 1.17 per cent to Rs 116.25 per kg with a business volume of 12 lots.

Market analysts said besides good demand at the spot market from battery makers, a firming trend in copper and other base metals at the LME also influenced the lead prices at the futures trade.

At the LME, lead added 0.7 per cent to $2,455 a tonne in the early trade today.

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Published on January 31, 2011
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