Lead marginally up

PTI New Delhi | Updated on February 24, 2011 Published on February 24, 2011

In restricted activity, lead prices rose marginally by 0.25 per cent in futures trade today, as speculators indulged in covering up of their pending short positions, even as metal weakened at the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for delivery in February gained 30 paise or 0.25 per cent to Rs 115.25 a kg with a trade turnover of 11 lots.

The metal for delivery in March contract also moved up by 20 paise or 0.20 per cent to Rs 116.10 a kg, with a business turnover of eight lots.

Market analysts said covering up of pending short positions by speculators ahead of monthly expiry helped lead to trade higher at futures trade but weak trend at the LME, capped the gains.

Globally, lead declined 0.2 per cent to $2,535 a tonne at the LME.

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Published on February 24, 2011
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