Upsurge in demand lifts lead futures by 0.69 pc

Lead prices went up by 0.69 per cent to Rs 159.70 per kg in futures market today as traders built up fresh positions, taking positive cues from the spot market on pick up in demand.

At the Multi Commodity Exchange, lead for delivery in May month rose by Rs 1.10, or 0.69 per cent to Rs 159.70 per kg in business turnover of 638 lots.

Likewise, the metal for delivery in June edged higher by Re 1, or 0.63 per cent to Rs 160 per kg in 5 lots.

Analysts said fresh positions created by participants backed by pick up in demand from battery-makers in the physical market mainly led to the rise in lead prices at futures trade.