Lead up by 1% on global cues, spot demand

Traders enlarged positions, taking positive cues from the global market and rising demand

Taking positive cues from the global market and rising demand at domestic spot markets, lead prices went up by 1.05% to Rs 111.15 per kg in futures trade today as traders enlarged positions.

At the Multi Commodity Exchange, lead for delivery in May rose by Rs 1.15, or 1.05%, to Rs 111.15 per kg, in a business turnover of 2,716 lots.

Likewise, the metal for delivery in far-month June edged up by a Re, or 0.90%, to Rs 112.00 per kg in 167 lots.

Market analysts said apart from a firming trend in base metals in global markets, rising demand from battery-makers in the domestic spot markets kept lead prices higher at futures trade.