Lead up 0.1% on strong demand, overseas cues

Metal prices for delivery in November rose by 0.15%

Lead futures prices today gained 0.16%, to Rs 128.35 per kg, supported by rising demand from battery-makers at the spot market and a firming trend in base metals at the London Metal Exchange.

 

At the Multi Commodity Exchange, lead prices for delivery in October traded 20 paise, or 0.16%, higher at Rs 128.35 per kg, with a turnover of 776 lots.

 

The metal prices for delivery in November also rose by 20 paise, or 0.15%, to Rs 129.45 per kg, having a turnover of 14 lots.

 

Analysts said besides strong domestic demand from battery-makers, recovery in the entire base metals at the London Metal Exchange on optimism that US lawmakers will reach a deal to raise the debt limit, easing concern that global growth will slow, also influenced lead prices at futures trade.