Lead futures rise on spot demand

NEW DELHI: Lead futures today rose by 0.35 per cent to Rs 129.45 per kg as speculators created positions, triggered by rising demand at domestic spot markets.


At the Multi Commodity Exchange, lead for delivery in September traded 45 paise, or 0.35 per cent, higher at Rs 129.45 per kg, with a turnover of 484 lots.

The metal for delivery in October also rose by 35 paise, or 0.27 per cent, to trade at Rs 130.60 per kg, in a business turnover of 30 lots.

Marketmen said besides domestic demand from consuming industries, particularly battery-makers, a firming trend in copper overseas on speculation that policy makers will be less inclined to curb stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve, mainly influenced lead futures here.