Lead up 0.39% on spot demand, global cues

Fresh positions by speculators driven by a firm spot demand, firm trend on LME influenced futures prices

Lead futures today traded 0.39 per cent higher at Rs 102.60 per kg as speculators enlarged their positions, supported by strong spot demand and a firming trend in global markets.

At the Multi Commodity Exchange, lead for delivery in June gained 40 paise, or 0.39%, at Rs 102.60 per kg, with a turnover of 1,179 lots.

The July contract rose by a similar margin to trade at Rs 104.15 per kg, with a turnover of 223 lots.

At the London Metal Exchange (LME), lead rose 1.01% to $1,806 a tonne.

Analysts said creation of fresh positions by speculators, driven by a firm spot demand and a firm trend in base metals at the LME, mainly influenced the lead prices at futures trade.