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Spot demand, global cues lift lead futures by 1.37 pc

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Press Trust of India New Delhi
Lead prices rose by 1.37 per cent at Rs 155.05 per kg in futures trade today as participants indulged in creating fresh positions due to pick-up in demand from consuming industries in the spot market amid a firm trend in the base metals overseas.

At the Multi Commodity Exchange, lead for delivery in current month edged up by Rs 2.10, or 1.37 per cent to Rs 155.05 per kg in a business turnover of 814 lots.

Likewise, the metal for delivery in December traded higher by Rs 2, or 1.31 per cent to Rs 155.20 per kg in 76 lots.
 

Market analysts attributed the rise in lead futures to fresh positions built up by traders after pick-up in demand from battery-makers in the spot market and a firm trend in the base metals pack at the London Metal Exchange (LME) as US growth buoyed demand outlook for metals.

Meanwhile, lead traded at the highest in more than five years on the Shanghai Futures Exchange.

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First Published: Nov 24 2016 | 11:07 AM IST

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