Lead up 0.5% on spot demand, overseas trend

Lead futures strengthened 0.54% to Rs 120.05 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 current month was trading higher by 65 paise, or 0.54%, at Rs 120.05 per kg, with a turnover of 103 lots.

The metal for delivery in September edged higher by 50 paise, or 0.42%, to Rs 120.70 per kg, in a business volume of one lot.

Marketmen said that apart from pick-up in domestic demand, mainly from battery-makers, firming trend in the base metals pack at the London Metal Exchange (LME) as strong US jobs data burnished sentiment toward the world's biggest economy, supported the upside in lead futures here.