Lead futures rise on pick-up in demand

Lead prices traded higher by Rs 1.10 to Rs 125.05 per kg in futures trade today on pick-up in demand from battery makers amid a firming global trend.

At the Multi Commodity Exchange, lead for delivery in May contract traded higher by Rs 1.10, or 0.89%, to Rs 125.05 per kg, with a business turnover of three lots.

Similarly, the metal for delivery in April edged up by 90 paise, or 0.72%, to Rs 125.10 per kg, with a business volume of two lots.

Market analysts said pick-up in demand from battery makers, supported by a firming trend at the London Metal Exchange, mainly pushed up lead futures prices.

Meanwhile, lead for three-month delivery advanced 0.9% to $2,776 a metric tonne on the London Metal Exchange, the highest price since April 28, 2008.