Upsurge in demand lifts lead futures by 1.50%

Lead prices moved up by 1.50 per cent to Rs 131.75 per kg in futures trading today as traders widened their bets on the back of pick up in demand from consuming industries in the spot market.
At the Multi Commodity Exchange, lead for delivery in September month rose by Rs 1.95, or 1.50 per cent to Rs 131.75 per kg in business turnover of 6,488 lots.
On similar lines, the metal for delivery in October contracts traded higher by Rs 1.75, or 1.34 per cent to Rs 131.90 per kg in 1,198 lots.
Marketmen attributed the rise in lead futures to fresh positions created by participants following improved demand from battery-makers in the spot market.