Lead futures rise on short-covering, spot demand

Lead futures traded Rs 0.55, or 0.60 per cent higher at Rs 91.70 per kg, mostly supported by a firming trend in spot markets on strong demand.

At the Multi Commodity Exchange, lead for delivery in May contract gained Rs 0.55, or 0.55 per cent higher at Rs 91.70 per kg, with a business turnover of 473 lots.

The metal for delivery in June-month contract also moved up by similar margin to Rs 92.75 per kg, clocking a turnover of 51 lots.

Covering-up of short positions by speculators, following pick up in demand in the spot markets, led to a recovery in lead prices at futures market here, analysts said.