Lead gains by 0.6% on spot demand

Lead futures prices today rose by 0.60% to Rs 117.70 per kg as speculators enlarged positions mostly on the back of rising domestic spot demand from battery-makers.

At the Multi Commodity Exchange, lead for delivery in April traded 70 paise, or 0.60%, higher at Rs 117.70 per kg, with a turnover of 176 lots.

Marketmen said the rise in lead futures was mostly supported by rising demand from battery-makers in the spot markets and firmness in base metals overseas ater data showing the weakest pace of US hiring in more than a year weakened the dollar and boosted commodities, including metals.