Lead futures firm up 0.37 pc on spot demand, overseas trend

Lead futures strengthened 0.37 per cent to Rs 121.30 per kg today as speculators built up bets on rising demand in the domestic spot market and a firming trend overseas.

At the Multi Commodity Exchange, lead for delivery in the April was trading higher by 45 paise, or 0.37 per cent, at Rs 121.30 per kg, with a turnover of 20 lots.

The metal for delivery this month edged higher by 30 paise, or 0.25 per cent, to Rs 120.50 per kg, in a business volume of 212 lots.

Marketmen said that apart from pick-up in domestic demand, mainly from battery-makers, firming trend in the London Metal Exchange (LME) as improved sentiment in China bolstered base metals prices and iron ore, supported the upside in lead futures.