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MCX Lead, Nickel futures moves up on rising spot demand

MCX Lead futures

Lead prices rose 0.45 percent to 133.50 rupees per kg in futures trading today as speculators extended their positions, driven by pick-up in spot market demand.

At MCX most active, lead for delivery in January rose by 60 paise, or 0.45 percent, to 133.50 rupees per kg in business volume of 1,029 lots.

Similarly, the metal for February delivery rose 45 paise, or 0.41 percent, at 134.80 rupees per kg in 64 lots.

MCX Nickel futures

While, with the support of the growing demand for alloy-makers in the domestic spot markets, the price of Nickel rose 0.31 percent to 908.20 rupees per kg in futures trading today as speculators extended their positions .

At MCX most active, nickel for delivery in January rose by Rs 2.80, or 0.31 percent, at 908.20 rupees per kg in business volume of 1,405 lots.

Nickel February traded higher by Rs 2.50, or 0.27 per cent to Rs 914 per kg in 181 lots.

Market observers attributed the rise in prices of lead and nickel in trading futures by speculators extended their positions, driven by the growing demand in the spot market.

Reported News Source: PTI Economic Times

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