Lead recovers on spot demand, global cues

Buoyed by a firming trend in the global markets and pick-up in local demand from battery makers, lead prices rose by 0.43% to Rs 106 per kg in futures trade today.

At the MCX, the May delivery traded higher by 45 paise, or 0.43%, to Rs 106 per kg, with a business turnover of 1,700 lots.

The June contract edged up by 45 paise, or 0.38%, to Rs 106.95 per kg, with a business turnover of 101 lots.

Analysts attributed the rise in lead prices at futures market to a firming global trend where base metals recovered after Japan raised its economy's outlook and pick-up in demand from battery-makers in the spot market.

Meanwhile, lead rose by 1.2% to $1,950 a tonne on the London Metal Exchange.