Lead futures up 1.10 pc on base metal gains

Lead prices moved up by 1.10 per cent to Rs 161.55 per kg in futures trade today as participants 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 December moved up by Rs 1.75, or 1.10 per cent, to Rs 161.55 per kg, in a business turnover of 627 lots.

Likewise, the metal for delivery in January edged up by Rs 1.75, or 1.09 per cent, to Rs 162.05 per kg in 12 lots.

Market analysts attributed the rise in lead futures to speculators enlarging their positions following pick-up in demand from battery-makers in the spot market.
 

Besides, a firming trend in the base metals pack overseas influenced metal prices.