Lead gains 0.88% on spot demand

Buoyed by domestic demand at markets and global cues, lead prices rose by Rs 0.90, or 0.88 per cent, to Rs 102.90 per kg in futures trade today.  

At the Multi Commodity Exchange counter, the October contract of lead traded Rs 0.90, or 0.88 per cent higher, to Rs 102.90 per kg, with a turnover of one lot.

Similarly, the metal for delivery in current-month September contract gained Rs 0.8, or 0.84 per cent, to trade higher at Rs 101.90 per kg, with a business turnover of six lots.

Analysts said besides pick up in demand from battery makers and other consuming industries at the spot markets, a rise of 0.8 per cent in the London Metal Exchange-Index of six metals, yesterday, also influenced the lead futures prices here.