Lead futures up 0.76% on global cues

Continuing its rising streak for the third straight day, lead prices traded higher by 0.76 per cent to Rs 139.25 per kg in futures market today as participants engaged in expanding their positions on the back of a firm trend overseas.
Besides, uptick in demand from battery-maker at domestic spot market supported the upside.
At the Multi Commodity Exchange, lead for delivery in September rose Rs 1.05 or 0.76 per cent to Rs 139.25 per kg in business turnover of 7,668 lots.
Likewise, the metal for delivery in October contracts edged up by 80 paise or 0.58 per cent to Rs 138.75 per kg in 6,842 lots.

Marketmen said increasing of position by traders after the metal climbed to the highest in more than a year as industrial metals advanced on speculation that OPEC's decision to cut output will drive up oil prices, mainly kept lead prices higher at futures trade.
Meanwhile, lead for delivery in three months advanced 3.3 per cent to USD 2,062.50 a metric tonne on the London Metal Exchange. Prices climbed more than 7 per cent in four days and reached USD 2,070.50 on Thursday, the highest since May 2015.