Lead up 0.3% on spot demand

Firm trend in global markets helps uptrend

Supported by spot demand and a firm trend in global markets, lead futures today traded 0.33% higher at Rs 106.90 per kg.

At the Multi Commodity Exchange, lead for delivery in August traded 35 paise, or 0.33%, at Rs 106.90 per kg, with a turnover of 429 lots.

The September contract rose by 25 paise at Rs 106.80 per kg, with a turnover of 71 lots.

Marketmen said the rise in lead futures was due to creation of fresh positions by speculators on spot demand.

A firm trend in base metals at the London Metal Exchange on increased speculation that central banks in the US and China, the world's two largest users, may add more stimulus to strengthen their economies, raised demand outlook for metals, they added.