Lead rises in futures trade, up 0.75%

In range-bound movements, lead prices edged up by 0.75% to Rs 115.15 per kg in futures trade today, largely in tandem with a firming trend at the domestic spot markets on pick-up demand.

However, metal's weakness at the London Metal Exchange restricted gains.

At the Multi Commodity Exchange, lead for delivery in July moved up by 40 paise, or 0.75%, to Rs 115.15 per kg, with a business turnover of 37 lots.

The June contract traded 40 paise, or 0.35% higher, at Rs 114.45 per kg, with an open interest of 516 lots.

Market analysts said a better trend at the spot markets on pick-up in industrial demand helped lead prices to rise, but weakness in metal at the LME limited the gains.

 

Meanwhile, lead fell by 0.20% to $2,545 a tonne at the London Metal Exchange, in early trade today.