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Lead prices moved up by 0.80% to Rs 126.20 per kg in futures trade today as speculators enlarged their positions, driven by pick-up in spot market demand and gains in base metals overseas.
At the Multi Commodity Exchange, lead for delivery in May moved up by Re 1, or 0.80%, to Rs 126.20 per kg in business turnover of 968 lots.
Likewise, the metal for delivery in June edged up by 95 paise, or 0.75% to Rs 127.10 per kg in 53 lots.
Globally, lead for delivery in three months on the London Metal Exchange rose 1.2% to $1,996.50 per tonne.
Analysts attributed the rise in lead futures to speculators scaling up their positions following rise in demand in the spot market and a firming trend in metal overseas after inventories dropped to the lowest level in five years and data signalled that demand will climb in the US, the world's second-biggest metal consumer.
