Lead strengthens on spot demand, overseas trend

Lead futures prices rose by 0.56% to Rs 107.55 per kg today as speculators enlarged positions, driven by pick-up in demand from battery-makers in the spot market amid a firming global trend.

At the MCX, the May delivery traded higher by 60 paise, or 0.56%, to Rs 107.55 per kg in business turnover of 1,776 lots.

The June delivery traded higher by 55 paise, or 0.51%, to Rs 108.05 per kg in 125 lots.

Analysts said besides a pick-up in demand from battery- makers in the spot market, a firming trend in base metals in overseas markets helped lead to trade higher at futures market.

Meanwhile, lead gained 0.4% to $1,979 a tonne on the London Metal Exchange.