Lead advances 0.29% driven by spot demand

Analysts said rising demand from battery makers influenced lead prices

Amid a firming trend at spot markets on rising demand from battery makers, lead rose 0.29% to Rs 122.40 per kg in futures trade today as speculators built up positions.

At Multi Commodity Exchange, lead for delivery in June was up 35 paise, or 0.29%, at Rs 122.40 per kg in a business turnover of 189 lots.

Likewise, the metal for delivery in July traded up by 25 paise, or 0.20%, at Rs 123.20 per kg in 1 lot.

Market analysts said rising demand from battery makers influenced lead futures prices, but a weak trend in select base metals overseas limited gains.