Lead futures gain 0.47% on overseas trend

Buoyed by a firming global trend and strong demand at domestic markets, lead prices moved up by 0.47% to Rs 117.25 per kg in futures trading today.

At the Multi Commodity Exchange, lead for delivery in May moved up by 0.55 paise, or 0.47% to Rs 117.25 per kg, with a business turnover of four lots.

Likewise, the metal for delivery in April traded higher by 45 paise, or 0.39% to Rs 116.90 per kg, with an open interest of eight lots.

Market analysts said besides a firming trend at the London Metal Exchange (LME), pick-up in demand from battery makers led to the rise in lead futures prices.

 

Meanwhile, lead advanced 1.2% to $2,588 a metric tonne at LME.