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Lead futures strengthen on spot demand

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Press Trust of India New Delhi

In a range-bound trade, lead futures traded 0.24 per cent higher at Rs 114.95 per kg today, supported by firm spot demand, amid covering up of short positions.

At the Multi Commodity Exchange platform, lead futures for December delivery edged up by 30 paise, or 0.24 per cent to Rs 114.95 per kg, with a business turnover of 488 lots.

Similarly, lead futures for January contract also gained 15 paise, or 0.13 per cent to Rs 114.55 per kg, with a turnover of 405 lots.

Market analysts said firm trend in copper at global markets and strong demand at the domestic markets influenced the lead futures prices.

 

Besides, covering-up of pending short positions by speculators in view of ending settlement too supported the upside, they said.

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First Published: Dec 31 2010 | 12:41 PM IST

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