Lead up 0.5% on firm overseas trend

Higher offtake from battery makers supports uptrend

Lead futures traded up by 0.51 per cent to Rs 129.05 per kg today on a firming trend in base metals in the global markets amid increased demand from domestic battery-makers.

At the Multi Commodity Exchange, lead for delivery in July traded higher by 65 paise, or 0.51 per cent, at Rs 129.05 per kg, with a turnover of two lots, while prices for delivery in June rose 60 paise, or 0.47 per cent, to Rs 127.80 per kg in a turnover of 114 lots.

Marketmen said apart from rising demand in the spot markets from domestic battery-makers and other consuming industries, a firming trend in base metals at the London Metal Exchange after a private gauge of Chinese factory output beat economic estimates boosting demand prospects for metals by the biggest user, supported the upside in lead futures here.