 "Lead up by 0.7% on pickup in demand")
Lead prices moved up by 0.70% to Rs 129.15 per kg in futures trade today as participants enlarged their positions, driven by pickup in spot market demand and gains in base metals overseas.
At the Multi Commodity Exchange, lead for delivery in April moved up by 90 paise or 0.70% to Rs 129.15 per kg in business turnover of 966 lots.
Likewise, the metal for delivery in May edged up by 85 paise or 0.66% to Rs 129.85 per kg in 77 lots.
Besides, a firming trend in base metals overseas ahead of housing data from the US and a gauge of manufacturing strength in China, the two largest industrial metals consumers, influenced metal prices.
At the Multi Commodity Exchange, lead for delivery in April moved up by 90 paise or 0.70% to Rs 129.15 per kg in business turnover of 966 lots.
Likewise, the metal for delivery in May edged up by 85 paise or 0.66% to Rs 129.85 per kg in 77 lots.
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Market analysts attributed the rise in lead futures to speculators enlarging their positions following pickup in demand from battery-makers in the spot market.
Besides, a firming trend in base metals overseas ahead of housing data from the US and a gauge of manufacturing strength in China, the two largest industrial metals consumers, influenced metal prices.
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