Lead futures rise 0.52% on spot demand

Lead prices rose 0.52 per cent in futures trade in the evening session today due to pick up in demand from consuming industries in the spot market, even as the metal weakened overseas.
The Multi Commodity Exchange (MCX) was closed for morning session on account Diwali (Bali Pratipada).
At the MCX, lead for delivery in November rose by 55 paise, or 0.52 per cent to Rs 106.45 per kg in a business turnover of 539 lots.
Similarly, the metal for delivery in December edged up by 50 paise, or 0.47 per cent, to Rs 107.45 per kg in 8 lots.

Market analysts attributed the rise in lead futures to pick up in demand from battery makers in the spot market.
They said, however, the rise was capped by weak trend overseas, where lead dropped to the lowest in five years after Chinese industrial output matched the slowest growth since the global financial crisis.
Meanwhile, lead for delivery in three months dropped 3.2 per cent to USD 1,582 a metric tonne, the lowest since June 2010, on the London Metal Exchange yesterday.