Lead futures firm up on spot demand, overseas trend

Lead futures strengthened 0.08 per cent to Rs 127.75 per kg today as speculators built up bets on rising demand in the domestic spot market and a firming trend overseas.
At the Multi Commodity Exchange, lead for delivery in the current month was trading higher by 10 paise, or 0.08 per cent, at Rs 127.75 per kg, with a turnover of four lots.
The metal for delivery in October edged higher by 5 paise, or 0.04 per cent, to Rs 128.25 per kg, in a business volume of four lots.
Marketmen said that apart from pick-up in domestic demand, mainly from battery-makers, firming trend in the base metals pack at the London Metal Exchange (LME) after China's official factory gauge unexpectedly rose last month to the highest level in almost two years, supported the upside in lead futures here.