Lead up on global cues, spot demand

PTI New Delhi | Updated on June 21, 2011

In range-bound movements, lead strengthened by 0.36 per cent in futures trade today, largely in tandem with a firming trend at the London Metal Exchange on easing concerns over Greece’s debt crisis.

At the Multi Commodity Exchange, lead for delivery in June moved up by 40 paise or 0.36 per cent to Rs 110.75 per kg, with a business turnover of 1,697 lots.

Likewise, the metal for delivery in July also rose by a similar margin to Rs 111.60 per kg, with a turnover of 179 lots.

Market analysts said besides a firming trend in copper and other base metals at the LME on easing concern about Greece’s debt crisis following assurances from European officials that a solution will be found, better demand at the domestic markets also influenced lead futures prices.

Meanwhile, lead gained 0.40 per cent to $2,460 per tonne at the LME.

Published on June 21, 2011

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