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Lead futures rise 0.63% as demand picks up

Press Trust of India  |  New Delhi 

Lead prices traded higher by 0.63 per cent at Rs 142.75 per kg in futures trading Monday as speculators built up fresh positions due to upsurge in demand in the spot market amid firm global cues.

Moreover, a firm trend in the base metals pack at the (LME) and signs of easing trade tensions between the US and top metals consumer China, influenced sentiments.

At the Multi Commodity Exchange, lead for delivery in January month edged up by 90 paise, or 0.63 per cent, to Rs 142.75 per kg in business turnover of 603 lots.

Market analysts said fresh positions created by traders after uptick in demand by battery-makers in the physical markets mainly helped lead prices to trade higher at futures trade.

Globally, at the LME, lead climbed 1.8 per cent to USD 1,998 per tonne.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 21 2019. 11:40 IST