Lead up 0.3% on spot demand

Firming trend in select base metals at the LME led to rise in lead prices

Lead prices edged up by 0.31% to Rs 131.20 per kg in futures trade today as speculators created fresh positions on rise in demand from battery-makers in the spot market amid a firming trend overseas.

At the Multi Commodity Exchange, lead for delivery in February edged up by 40 paise, or 0.31%, to Rs 131.20 per kg in a business turnover of 241 lots.

Likewise, the metal for delivery in March traded higher by 40 paise, or 0.30% to Rs 132.35 per kg in five lots.

Market analysts said apart from fresh positions built by speculators on the back of a rise in demand from battery makers, a firming trend in select base metals at the London Metal Exchange led to rise in lead prices at futures trade.