India lead futures up 3.3% at 16-month high

Published on 2009-09-04 12:54:48

Singapore - India September MCX lead futures up 3.3% at 16-month high of INR114.75/kg on supply concerns after shutdown of some Chinese lead smelters; contract earlier hit 4% upper limit. "The potential supply shortage is fueling the price rise in lead," says STCI Commodities trader Kapil Gandhi; lead prices up around 15% in past three sessions. In other metals, aluminum up 0.7% at INR90.50/kg, zinc up 2.3% at INR94.05/kg, nickel trading 0.8% higher at INR901.60/kg.