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Lead futures gain on global cues, rising demand

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Press Trust of India New Delhi

Buoyed by the firming trend in base metals overseas on rising demand, lead futures traded 0. 45 per cent higher at Rs 112.10 per kg today.

Strong demand for the metal at the domestic markets also influenced lead futures prices.

At the Multi Commodity Exchange counter, lead futures for December delivery rose by 50 paise, or 0.45 per cent, to Rs 112.10 per kg, with a business turnover of 864 lots.

Similarly, lead futures for January-month delivery also gained 60 paise, or 0.45 per cent to Rs 112.80 per kg, with a business turnover of 249 lots.

Analysts said a firm trend in base metals at the London Metal Exchange (LME) along with firming trend at the domestic spot markets on strong demand from battery makers, supported the rise in lead futures prices.

At the LME, lead advanced 1.7 per cent to $2,471.75 per tonne.

 

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First Published: Dec 29 2010 | 2:03 PM IST

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