Lead up 0.3% on short-covering
Rising spot market demand supported the trade
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Amid covering-up of short positions by speculators and rising demand in the spot markets, lead futures prices today rose by 0.25% to Rs 119.25 per kg.
Besides, metals's gains at the London Metal Exchange (LME), also pushed the prices.
At the Multi Commodity Exchange (MCX), the May contract traded 30 paise, or 0.25%, higher at Rs 119.25 per kg in 2,439 lots.
The June also rose by 15 paise, or 0.13%, to Rs 119.30 per kg in 545 lots.
Globally, lead increased 0.2% to $2,123 per tonne at the LME.
Marketmen said covering-up of short positions at prevailing levels by speculators amid a firm domestic demand a higher trend in metal overseas, mainly influenced lead prices at futures trade.
Besides, metals's gains at the London Metal Exchange (LME), also pushed the prices.
At the Multi Commodity Exchange (MCX), the May contract traded 30 paise, or 0.25%, higher at Rs 119.25 per kg in 2,439 lots.
The June also rose by 15 paise, or 0.13%, to Rs 119.30 per kg in 545 lots.
Globally, lead increased 0.2% to $2,123 per tonne at the LME.
Marketmen said covering-up of short positions at prevailing levels by speculators amid a firm domestic demand a higher trend in metal overseas, mainly influenced lead prices at futures trade.
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First Published: May 29 2013 | 2:45 PM IST