Lead futures up on global cues, spot demand

Tracking gains in base metals on the London Metal Exchange and a pick-up in domestic demand, lead prices edged up higher by 1.11% to Rs 114 per kg in futures trading today.

At the Multi Commodity Exchange, lead for delivery in May moved up by Rs 1.25, or 1.11%, to Rs 114 per kg, with a business turnover of 16 lots.

Likewise, the metal for delivery in June edged up by Rs 1.25, or 1.11%, to Rs 114.10 per kg with a business turnover of nine lots.  

Market analysts said besides a firming trend in base metals on the London Metal Exchange, increased domestic demand -- largely from battery makers -- pushed up lead futures prices here. 

 

Meanwhile, lead gained 0.20% to $2,493 per tonne on the LME.