Lead marginally up by 0.2% on spot demand

Lead futures prices today rose 0.17% to Rs 121.40 per kg largely as speculators created fresh positions, supported by rising demand in spot markets even as metal weakened overseas.

 

At the Multi Commodity Exchange, lead for delivery in August traded 20 paise, or 0.17%, higher at Rs 121.40 per kg, with a turnover of 50 lots, while delivery in July month contracts gained 15 paise, or 0.12% to Rs 120.35 per kg in a turnover of 1,130 lots.

 

Globally, lead declined 0.4% to $2,022 a tonne at the London Metal Exchange.

 

Marketmen said a firming trend in spot markets on the back of increased demand from battery-makers and other consuming industires, supported upside in lead futures but weak trend in the global market on speculation that demand may slow in China, restricted the gains.