Lead gains about 0.7% firm domestic demand, global cues

Higher offtake from battery makers, firm trend on LME boost the metal in futures trading

Lead gained 0.77 per cent to Rs 110.95 per kg in futures trade today, after speculators enlarged positions amid rising domestic demand and a firming trend overseas.     

At the Multi Commodity Exchange, lead for delivery in June edged up by 85 paise, or 0.77 per cent, to Rs 110.95 per kg, with a business turnover of 168 lots.

The metal for delivery in May also rose by 75 paise, or 0.68 per cent, to Rs 110.30 per kg in a turnover of 4,053 lots.     

Marketmen said besides strong domestic demand from battery makers, a firm trend at the London Metal Exchange (LME) on better-than-expected US jobs data, boosting the outlook for metals' demand, influenced lead prices at futures trade here.     
 

At the LME, lead climbed as much as 5 per cent to $2,038 per tonne.