Lead gains 0.19% on spot demand

Pick up in demand from battery-makers influences prices

Supported by the rising spot market demand, lead futures prices today edged up 0.19% to Rs 105.60 per kg after speculators enlarged their positions.

However, weakness in metal at the London Metal Exchange (LME) restricted the gains.

At the Multi Commodity Exchange, lead for delivery in August traded 20 paise, or 0.19%, higher at Rs 105.60 per kg, with a turnover of 1,081 lots.

The August contract rose by a similar margin to Rs 106.15 per kg, with a turnover of 81 lots.

Meanwhile, at the LME, lead traded a shade lower.

Marketmen said fresh positions created by speculators on a firming trend at spot markets due to pick up in demand from battery-makers, influenced lead prices at futures trade.