 "Lead rises by 0.7% driven by firm trend at spot markets")
Amid a firming trend at spot markets on rising demand from battery makers, lead rose 0.67% to Rs 113.50 per kg in futures trade today as speculators built up positions.
Furthermore, a firming trend in base metals overseas supported the upside in metal prices.
At Multi Commodity Exchange, lead for delivery in July was up 75 paise, or 0.67%, at Rs 113.50 per kg in a business turnover of 54 lots.
According to market analysts, rising demand from battery makers at spot markets and strength in base metals at the London Metal Exchange as manufacturing in China showed signs of stabilising and amid speculation a deal is near between Greece and its euro-area creditors, influenced lead futures prices.
Furthermore, a firming trend in base metals overseas supported the upside in metal prices.
At Multi Commodity Exchange, lead for delivery in July was up 75 paise, or 0.67%, at Rs 113.50 per kg in a business turnover of 54 lots.
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Likewise, the metal for delivery in June traded up by 70 paise, or 0.63%, at Rs 112.20 per kg in 627 lots.
According to market analysts, rising demand from battery makers at spot markets and strength in base metals at the London Metal Exchange as manufacturing in China showed signs of stabilising and amid speculation a deal is near between Greece and its euro-area creditors, influenced lead futures prices.
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