Lead strengthens in futures trade

Written by Agencies | New Delhi | Updated: Jan 31 2011, 23:01pm hrs
Lead futures prices edged up by 1.23 per cent on Monday, as speculators enlarged their positions, driven by firming trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for February gained Rs 1.40, or 1.23 per cent to Rs 115.20 per kg, with a trade turnover of 15 lots.

The metal for delivery in January contract also gained Rs 1.35, or 1.17 per cent to Rs 116.25 per kg, with a business volume of 12 lots.

Market analysts said besides good demand at the spot market from battery makers, firming trend in copper and other base metals at the LME also influenced the lead prices at futures trade.

At the LME, lead added 0.7 per cent to USD 2,455 a tonne in early trade on Monday.