Lead gains 0.23% on spot demand

Higher offtake by battery makers pushes prices up, but weakness on LME caps gains

Lead futures prices rose marginally by 0.23% to Rs 107.55 per kg today as speculators enlarged positions, driven by pick-up in demand from battery-makers in the spot markets.

However, the metal's weakness at the London Metal Exchange (LME) capped the gains.

At the Multi Commodity Exchange, lead for delivery in May traded higher by 25 paise, or 0.23%, to Rs 107.55 per kg in business turnover of 790 lots.

The June contract traded higher by 20 paise, or 0.18%, to Rs 108.35 per kg in 117 lots.

Analysts said pick-up in demand from battery-makers in the spot markets influenced lead prices to rise at futures trade here.