Lead futures up on global cues, spot demand

Local lead prices up 0.7% at Rs 112,6/kg

Supported by a firming trend overseas and a pick-up in spot demand, lead futures prices today traded higher by 0.67% to Rs 112.60 per kg.

At the MCX, lead for delivery in April traded higher by 75 paise, or 0.67%, to Rs 112.60 per kg in a business turnover of 2,500 lots.

The May contract edged up by 55 paise, or 0.49%, to Rs 112.55 per kg in 1,404 lots.

Analysts attributed the rise lead futures prices to a firming trend in base metals at the London Metal Exchange and pick-up in spot demand from battery-makers.

The three-month benchmark lead contract on the LME gained 0.2% to $2,143.25 a tonne on the LME in early trade today.