Lead futures up 0.24% on global cues, spot demand

Amid firm global cues and pick up in demand in the spot market, lead prices traded higher by 0.24 per cent to Rs 166.40 per kg in futures trade today as speculators built up fresh positions.
At the Multi Commodity Exchange, lead for delivery in February edged up by 40 paise, or 0.24 per cent to Rs 166.40 per kg in business turnover of 4,116 lots.
On similar lines, the metal for delivery in January contracts was trading higher by 20 paise, or 0.12 per cent, to Rs 165.80 per kg in 4,329 lots.
Market analysts said fresh positions created by traders, triggered by a positive trend in base metals in the international markets amid upsurge in demand from battery- makers in the physical market, mainly fuelled lead prices at futures trade.

Globally, lead for delivery in three month increased by USD 18 to USD 2,610 per tonne on the London Metal Exchange.