Lead gain 0.24% on spot demand, overseas trend

Supported by spot demand and a firming trend in global markets, lead futures today traded higher by 0.24% to Rs 105.85 per kg as speculators enlarged their positions.

At the MCX, lead for delivery in June traded 25 paise, or 0.24% higher, at Rs 105.85 per kg, with a turnover of 1,004 lots.

The metal for delivery in July also rose by similar margin to trade at Rs 106.80 per kg in a turnover of 44 lots.

At the LME, lead rose 0.3% to $1,902 a tonne.

Analysts said creation of fresh positions by speculators, supported by a good spot demand and a strong trend in base metals at the LME, mainly influenced the lead prices at futures trade.