Lead up 0.6% on overseas trend

Pick up in spot demand from battery-makers supports uptrend

Tracking a firming trend in base metals in the overseas market, lead futures prices today edged up by 0.61% to Rs 114.80 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 November traded 70 paise, or 0.61%, higher at Rs 114.80 per kg, with a turnover of 154 lots.

October lead rose by 60 paise, or 0.53%, to Rs 114.60 per kg, with a turnover of 1,1421 lots.

Marketmen said besides domestic demand, a firm trend in copper and other base metals at the London Metal Exchange (LME) after data showed China's industrial production, retail sales and fixed-asset investment accelerated in September, boosted demand outlook for base metals, supporting the upside in lead futures prices.

 

Globally, lead traded 0.40% higher at the LME in early trade today.