Lead gains 0.37% on spot demand, overseas trend

Hopes that China and the US will introduce more stimulus to boost their economies influences prices

Supported by the rising spot market demand and firmness in base metals overseas, lead futures prices today edged up 0.37% to Rs 109.30 per kg after speculators enlarged their positions.

At the Multi Commodity Exchange, lead for delivery in September traded 40 paise, or 0.37%, higher at Rs 109.30 per kg, with a turnover of 669 lots.

October lead moved up by 35 paise, or 0.32%, to Rs 109.65 per kg, with a turnover of 669 lots.

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

Marketmen said fresh positions built-up by speculators, supported by the rising demand at spot markets from battery-makers and a firming trend at the LME on hopes that China and the US will introduce more stimulus to boost their economies, influenced lead prices at futures trade.