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Lead firms up 0.35% on spot demand

Traders build positions on higher offtake from battery makers; metal's weakness abroad caps gains

Press Trust of India New Delhi
Lead futures strengthened by 0.35 per cent to Rs 129.05 per kg today as speculators enlarged positions amid rising demand in the domestic spot market.

However, metal's weakness overseas restricted the gains.

In futures trading at Multi Commodity Exchange, lead for delivery in May traded higher by 45 paise, or 0.35 per cent, to Rs 129.05 per kg, with a turnover of 110 lots.

The June contract rose a similar margin to trade at Rs 130 per kg in a business volume of three lots.

Marketmen said the pick-up in domestic demand, particularly from battery-makers, supported the upside in lead prices in futures trade, but metal's weakness at the London Metal Exchange limited the gains.

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First Published: May 12 2015 | 10:48 AM IST

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