Lead up on overseas trend, spot demand

Speculators enlarge their positions driven by a firming trend overseas amid pick up in demand from battery-makers

Lead futures prices today edged up by 0.24% to Rs 124.50 per kg after speculators enlarged their positions driven by a firming trend overseas amid pick up in demand from battery-makers.

At the Multi Commodity Exchange, the December contract traded 30 paise, or 0.24% higher, at Rs 124.50 per kg, with a turnover of 1,351 lots.

The January contract also rose by 20 paise to trade at Rs 124.80 per kg, with a turnover of 180 lots.

Marketmen said besides domestic demand, a firm trend in copper and other base metals at the London Metal Exchange after data showed Chinese manufacturing activity may expand at a faster pace, supported the upside in lead futures prices.