Lead futures rise 1.34% as participants create fresh position

Lead prices rose by 1.34 per cent to Rs 158.60 per kg in futures trade today as traders built up fresh positions, driven by uptick in spot market demand.
At the Multi Commodity Exchange, lead for delivery in November went up by Rs 2.10, or 1.34 per cent to Rs 158.60 per kg in business turnover of 5552 lots.
In a similar fashion, the metal for delivery in December traded higher by a similar margin to Rs 159.35 per kg in 4525 lots.
Market analysts attributed the rise in lead futures to speculators created fresh positions on the back of pick up in demand from battery-makers in the physical market.