Lead up 0.6% on overseas trend, spot demand

Firming trend in base metals at LME influenced lead prices at futures trade

Lead prices rose 0.63% to Rs 127.20 per kg in futures trade today as participants enlarged positions largely in line with firming trend in base metals amid firm spot demand.

At the Multi Commodity Exchange, lead for delivery in August traded 80 paise, or 0.63%, higher at Rs 127.20 per kg, with a turnover of 7,063 lots, while prices for delivery in September up 65 paise, or 0.51%, to Rs 127.65 per kg in a turnover of 340 lots.

Marketmen said besides spot demand, a firming trend in base metals at the London Metal Exchange (LME) as copper and other base metals rose after China's official manufacturing data unexpectedly strengthened, influenced lead prices at futures trade.