Upsurge in spot demand lifts lead futures by 0.53 pc

Lead prices went up by 0.53 per cent to Rs 169.65 per kg in futures trading today as speculators built up fresh positions, taking positive cues from the spot market on good demand from battery makers.

At the Multi Commodity Exchange, lead for delivery in May month edged up by 90 paise, or 0.53 per cent to Rs 169.65 per kg in business turnover of 1,709 lots.

The metal for delivery in June was trading higher by a similar margin to Rs 170.55 per kg in 241 lots.

Analysts said fresh positions created by traders after pick up in demand from battery-makers in the physical markets mainly helped lead prices at futures trade.