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Lead rises on spot demand, global cues

May and June contracts gain 0.75% and 0.5% respectively

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Press Trust of India New Delhi

Lead futures prices today traded higher by 0.75% to Rs 107.80 per kg on pick-up in demand from battery-makers in the spot market amid a firming global trend.

At the Multi Commodity Exchange, lead for delivery in May traded higher by 80 paise, or 0.75%, to Rs 107.80 per kg in business turnover of 3,072 lots.

June lead edged up by 55 paise, or 0.51%, to Rs 108.50 per kg in 368 lots.

Analysts said apart from a rise in demand from battery makers in the spot market, a firming trend in overseas market helped lead prices to trade higher at futures market here.

 

Meanwhile, lead gained 0.5% to $1,975 a tonne on the London Metal Exchange.

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First Published: May 21 2012 | 3:02 PM IST

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