Evening Updates - Lead rises 0.94 pct on drop in stockpiles

Lead prices rose by 0.94 per cent on Thursday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 975 metric tonnes to 185100 metric tonnes as on February 4, 2016.

At the MCX, Lead futures, for the February 2016 contract, is trading at Rs 123.60 per kg, up by 0.94 per cent, after opening at Rs 123.55, against a previous close of Rs 122.45. It touched an intra-day high of Rs 124.25 till the trading.
 

Prices also rose due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a strong trend at the global market.