Lead gains 0.57% on spot demand

Increased demand from battery-makers helps uptrend

Supported by the pick up in spot demand from battery-makers, lead futures prices today rose by 0.57% to Rs 106.10 per kg after speculators enlarged their positions.

At the Multi Commodity Exchange, lead for delivery in August traded 60 paise, or 0.57%, higher at Rs 106.10 per kg, in a turnover of 1,272 lots.

The metal for delivery in September also rose by 45 paise, or 0.52%, to Rs 106.75 per kg in a turnover of 88 lots.

Analysts said creation of fresh positions by speculators, supported by a firming trend at the spot markets on the back of increased demand from battery-makers, helped lead futures to trade higher.