Lead up 0.4% supported by LME trend
Speculators enlarged positions sending prices higher
Lead prices edged up by 0.37% to Rs 109.30 per kg in futures trading today as speculators enlarged their positions, supported by a firming trend at the London Metal Exchange and a firm spot demand.
At the MCX, lead for delivery in June inched up by 40 paise, or 0.37%, to Rs 109.30 per kg, with a business turnover of 288 lots.
The May contract traded up by 35 paise, or 0.32%, to Rs 108.70 per kg in 2,797 lots.
Analysts said apart from a firming trend in global markets, increased buying by speculators on the back of pick-up in demand from battery-makers mainly kept lead prices higher at futures trade.
Meanwhile, lead advanced 0.6% to $1,940 a tonne on the London Metal Exchange.