Spot demand lifts lead futures, up 0.46%

Lead prices moved up by 0.46 per cent to Rs 119.80 per kg in futures trade today as speculators strengthened their positions, driven by pick-up in spot market demand.
Moreover, strength in base metals at the London Metal Exchange (LME) supported the upside.
At Multi Commodity Exchange, lead for delivery in current month moved up by 55 paise, or 0.46 per cent, to Rs 119.80 per kg in a business turnover of 335 lots.
The metal for delivery in March also rose by a similar margin to trade at Rs 120.50 per kg in a business volume of eight lots.

Market analysts attributed the rise in lead futures to speculators widening their bets following pick-up in demand from battery-makers in the spot market amid a firming trend in the base metals pack at the LME.
Globally, at the LME lead was up 1.3 per cent.