Lead futures gain 0.67% on global cues

Lead futures prices edged higher by 0.67% to Rs 105.20 per kg today, as speculators built up fresh positions, tracking a rebound in base metals at the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for delivery in December edged up by 70 paise, or 0.67%, to Rs 105.20 per kg, with an open interest for 186 lots.

Similarly, for delivery in January it moved up by 60 paise, or 0.57%, to Rs 106 per kg, with a business trunover of 3,324 lots.

At the LME lead advanced by 0.60% to $2,015 a tonne in early trade today.

Analysts said creation of fresh positions by speculators, in line with a firming trend in the entire base metals pack on the LME, mainly influenced lead prices at futures trade.

In addition, pick-up in demand at domestic markets from battery makers also supported the rise, they said.