Tracking a firming trend in the base metals pack at the London Metal Exchange (LME) and pick up in demand at the domestic markets, lead futures traded higher by 3.09 per cent today on increased positions built up by speculators. At the Multi Commodity Exchange, lead for delivery in December traded higher by Rs 5.10, or 3.09 per cent, to Rs 170.25 per kg, in a business turnover of 94 lots. The metal for delivery in this month was up by Rs 4.65, or 2.82 per cent to trade at Rs 169.75 per kg in 515 lots. Globally, lead advanced as much as 7.2 per cent at the LME. Market analysts said apart from strong demand from battery-makers in spot market where lead set for its strongest finish since 2011, mainly influenced lead futures.
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