Lead futures firm up 0.45 pc on spot demand, overseas trend

Lead futures strengthened by 0.45 per cent to Rs 123.60 per kg today as speculators built up bets on rising demand in the domestic spot market and a firming trend overseas.

At Multi Commodity Exchange, lead for delivery in the current month was trading higher by 55 paise, or 0.45 per cent, at Rs 123.60 per kg, with a turnover of 382 lots.

The metal for delivery in April edged higher by 55 paise, or 0.44 per cent, to Rs 124.20 per kg, in a business volume of six lots.

Marketmen said that apart from pick-up in domestic demand, mainly from battery-makers, gains in base metals in the London Metal Exchange supported the upside in lead futures, which followed a weak dollar and analyst projections that the worst of the commodity rout may be over.