Lead futures rise 0.37% on spot demand, global cues

Lead prices edged up by 0.37 per cent to Rs 109.50 per kg in futures trade today after participants built up fresh positions, driven by a pick-up in demand in the spot market and gains in base metals overseas.
At Multi Commodity Exchange, lead for delivery in September month traded higher by 40 paise, or 0.37 per cent, to Rs 109.50 per kg in business turnover of 4,756 lots.
Similarly, the metal for delivery in October contracts edged up by 40 paise, or 0.36 per cent, to Rs 110.70 per kg in 3970 lots.
Market analysts attributed the rise in lead futures to fresh positions built up by speculators, driven by pick-up in demand from battery-makers in the spot market.

Besides, a firming trend in base metals overseas influenced metal prices.