 "Lead up 0.56% on pick up in demand, global cues")
Lead prices moved up by 0.56 per cent to Rs 125.50 per kg in futures trade today as speculators enlarged their positions, driven by pick up in spot market demand and gains in base metals overseas.
At the Multi Commodity Exchange, lead for delivery in November moved up by 70 paise, or 0.56 per cent to Rs 125.50 per kg in business turnover of 155 lots.
December lead edged up by 60 paise, or 0.48 per cent to Rs 126.35 per kg in 6 lots.
Market analysts attributed the rise in lead futures to speculators enlarging their positions on the back of pick up in demand in the spot market and a firming trend in base metals overseas after economic data pointed to improved demand prospects in China and the US, the two largest consumers of industrial metals.
At the Multi Commodity Exchange, lead for delivery in November moved up by 70 paise, or 0.56 per cent to Rs 125.50 per kg in business turnover of 155 lots.
December lead edged up by 60 paise, or 0.48 per cent to Rs 126.35 per kg in 6 lots.
Market analysts attributed the rise in lead futures to speculators enlarging their positions on the back of pick up in demand in the spot market and a firming trend in base metals overseas after economic data pointed to improved demand prospects in China and the US, the two largest consumers of industrial metals.
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