Lead futures gain 0.48% on spot demand

Amid pick up in demand from consuming industries at spot market, lead prices were up by 0.48 per cent to Rs 158.45 per kg in futures trade today as speculators built up fresh positions.
At the Multi Commodity Exchange, lead for delivery in far-month March rose by 75 paise, or 0.48 per cent, to Rs 158.45 per kg, in a business turnover of one lot.
Similarly, the metal for delivery in February edged higher by 40 paise, or 0.25 per cent, to Rs 158.05 per kg in 327 lots.
Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market and a firming trend in the base metals at the London Metal Exchange, mainly led to the rise in lead prices at futures trade.