Lead rises marginally on overseas trend

August contract rises 0.19%

Tracking a firming trend in base metals in the overseas market, lead futures prices today edged up marginally by 0.19% to Rs 105.70 per kg after speculators enlarged their positions.

Pick-up in demand from battery-makers helped lead to trade higher at futures trade.

At the Multi Commodity Exchange, lead for delivery in August traded 20 paise, or 0.19% higher, at Rs 105.70 per kg, in a turnover of 3,867 lots.

The September contract rose by a similar margin to Rs 106.60 per kg in a turnover of 252 lots.

Meanwhile, at the London Metal Exchange (LME), lead was being quoted higher by 0.30% at $1,890 a tonne.

 

Analysts said creation of fresh positions by speculators, supported by a firming trend in base metals at the LME, influenced lead prices at futures trade.

Rising demand from battery-makers also supported the upside in metal prices, they said.