Lead up by 0.45% on firm spot demand, global cues

Traders said good demand from battery-makers also influenced lead prices

Lead futures prices today rose by 0.45% to Rs 121.90 per kg on strong spot demand amid a firming trend in base metals overseas.

 

At the Multi Commodity Exchange, lead for delivery in July traded 55 paise, or 0.45%, higher at Rs 121.90 per kg, with a turnover of 1,831 lots.

 

The metal for delivery in August rose by 45 paise, or 0.37%, to Rs 122.80 per kg in a turnover of 167 lots.

 

Traders said besides good demand from battery-makers, a firming trend in the entire base metal pack at the London Metal Exchange (LME) as investors awaited the release of US consumer prices and industrial production data later today and Federal Reserve's next move on stimulus, influenced lead futures prices here.

 

At the LME, lead added 0.3% to $2,061.75 per tonne.