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This is an archive article published on August 23, 2011

Lead futures up 0.86 on global cues

The metal for delivery in September also edged up by 65 paise,or 0.62 per cent.

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Lead futures prices gained 0.86 per cent to Rs 105.65 per kg on Tuesday,supported by a firming trend in overseas markets amid rising spot demand.

At the Multi Commodity Exchange,lead for delivery in August gained 90 paise,or 0.86 per cent,to Rs 105.65 per kg,with a business turnover of 2,215 lots.

The metal for delivery in September also edged up by 65 paise,or 0.62 per cent,to Rs 105.95 per kg,with a trading volume of 144 lots.

Analysts said a firming trend in other base metals on the London Metal Exchange and a pick-up in demand from battery makers and other consuming industries in the domestic market led to the rise in lead futures prices.

Meanwhile,lead in overseas markets rose by 1.4 per cent to USD 2,291.50 a tonne.

 

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