Lead futures gain 0.08% on spot demand, global cues

Lead futures edged higher by 0.08% to Rs 124.85 per kg today as speculators enlarged positions amid demand in the domestic spot market and a firming global trend.

At the Multi Commodity Exchange, lead for delivery in April traded higher by 10 paise, or 0.08%, to Rs 124.85 per kg, with a turnover of 1966 lots.

The metal for delivery in May, however, was trading steady at Rs 125.45 per kg in a business volume of three lots.

Marketmen said apart from domestic demand, particularly from battery-makers, gains in copper and other base metals in overseas market before the release of housing data in the US, the second-biggest metals consumer, supported the upside in lead prices at futures trade.