Commodities

Lead futures up on spot cues

PTI New Delhi | Updated on February 18, 2011

Lead prices rose by 0.51 per cent to Rs 118.90 per kg at the futures trading today amid fresh buying influenced by a pick-up in demand at the spot market and a firming trend on the London Metal Exchange.

At the Multi Commodity Exchange, lead for April contract gained 60 paise or 0.51 per cent to Rs 118.90 per kg with a business turnover of two lots. Similarly, February contract edged up by 35 paise or 0.3 per cent to Rs 118.60 per kg with an open interest in seven lots.

Market analysts said fresh buying by speculators amid a pick-up in demand at the spot market, with battery makers indulging in brisk buying, helped lead futures trade higher.

Meanwhile, on the London Metal Exchange, lead climbed by 1.4 per cent to $2,620 per tonne.

Published on February 18, 2011

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