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Lead futures rise 0.63% as demand picks up

At the Multi Commodity Exchange, lead for delivery in January month edged up by 90 paise, or 0.63 per cent, to Rs 142.75 per kg in business turnover of 603 lots.

January 21, 2019 / 12:44 PM IST
An engineer shows lead concentrate which was extracted from ore at the Novoangarsky lead and zinc ore dressing plant on a former riverbed of Angara river near the Siberian settlement of Novoangars, Russia, August 17, 2016. Picture taken August 17, 2016. REUTERS/Ilya Naymushin - S1AETWEYUJAA

An engineer shows lead concentrate which was extracted from ore at the Novoangarsky lead and zinc ore dressing plant on a former riverbed of Angara river near the Siberian settlement of Novoangars, Russia, August 17, 2016. Picture taken August 17, 2016. REUTERS/Ilya Naymushin - S1AETWEYUJAA

Lead prices traded higher by 0.63 per cent at Rs 142.75 per kg in futures trading Monday as speculators built up fresh positions due to upsurge in demand in the spot market amid firm global cues. Moreover, a firm trend in the base metals pack at the London Metal Exchange (LME) and signs of easing trade tensions between the US and top metals consumer China, influenced sentiments.

At the Multi Commodity Exchange, lead for delivery in January month edged up by 90 paise, or 0.63 per cent, to Rs 142.75 per kg in business turnover of 603 lots.

Market analysts said fresh positions created by traders after uptick in demand by battery-makers in the physical markets mainly helped lead prices to trade higher at futures trade.

Globally, at the LME, lead climbed 1.8 per cent to $1,998 per tonne.

PTI
first published: Jan 21, 2019 12:43 pm

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