Lead futures advance 0.70 pc, driven by spot demand

Amid a firming trend at the spot market on rising demand from battery makers, lead rose 0.70 per cent to Rs 157.35 per kg in futures trade today as speculators built up positions.
Furthermore, a firming trend in base metals overseas supported the upside in metal prices.
At the Multi Commodity Exchange, lead for delivery in March was up Rs 1.10, or 0.70 per cent, at Rs 157.35 per kg, in a business turnover of one lot.
Likewise, the metal for delivery in current month traded up by Rs 1.05, or 0.67 per cent, at Rs 156.80 per kg in 332 lots.

According to market analysts, rising demand from battery makers at spot markets and strength in base metals at the London Metal Exchange helped lead futures trade higher.