Lead futures gain 1.35% on spot demand, global cues

Lead futures strengthened by 1.35 per cent to Rs 127.65 per kg today as speculators enlarged positions amid demand in the domestic spot market and a firming global trend.
At the Multi Commodity Exchange, lead for delivery in November traded higher by Rs 1.70, or 1.35 per cent, to Rs 127.65 per kg, with a turnover of 4,303 lots.
The metal for delivery in December gained Rs 1.65, or 1.30 per cent, to Rs 128.55 per kg in a business volume of 214 lots.
Marketmen said apart from domestic demand, particularly from battery makers, the gain in copper and other base metals in overseas market, supported the upside in lead prices at futures trade.