NEW DELHI, May 22: Lead prices moved up by 0.80 per cent to Rs 126.20 per kg in futures trade today as speculators enlarged their positions, driven by pick-up in spot market demand and gains in base metals overseas.
At the Multi Commodity Exchange, lead for delivery in May moved up by Re 1, or 0.80 per cent, to Rs 126.20 per kg in business turnover of 968 lots.
Likewise, the metal for delivery in June edged up by 95 paise, or 0.75 per cent to Rs 127.10 per kg in 53 lots.
Globally, lead for delivery in three months on the London Metal Exchange rose 1.2 per cent to USD 1,996.50 per tonne.
Analysts attributed the rise in lead futures to speculators scaling up their positions following rise in demand in the spot market and a firming trend in metal overseas after inventories dropped to the lowest level in five years and data signalled that demand will climb in the US, the world’s second-biggest metal consumer. (PTI)
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