Lead futures prices up on strong global cues

The metal for delivery in November also rose by a similar margin to Rs 112.55 per kg.

Written by Agencies | New Delhi | Published: October 16, 2012 11:42 am

Tracking a rebound in base metals in the overseas market,lead futures prices today edged up by 0.22 per cent to Rs 112.35 per kg after speculators enlarged positions.

Pick-up in spot demand from battery-makers also helped lead to trade higher at futures trade.

At the Multi Commodity Exchange,lead for delivery in October traded 25 paise,or 0.22 per cent,higher at Rs 112.35 per kg,with a turnover of 1,519 lots.

The metal for delivery in November also rose by a similar margin to Rs 112.55 per kg with a business volume of 159 lots.

Marketmen said creation of positions by speculators,driven by a firm trend in copper and other base metals overseas supported by a better-than-expected retail sales reported by the US,influenced lead prices at futures trade here.

Further,rising demand from battery-makers also supported the upside in metal prices,they said.

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