Lead futures up on global cues, spot demand

Lead futures traded 0.23 per cent higher to Rs 110.65 per kg today, as speculators enlarged their positions, driven by a firming global trend.

At the Multi Commodity Exchange counter, lead futures for delivery in January rose by 25 paise, or 0.23 per cent to Rs 116.65 per kg, with a business turnover of nine lots.

Similarly, lead futures for December contract delivery also gained 15 paise, or 0.14 per cent to Rs 109.60 per kg, with a business turnover of 341 lots.

Meanwhile, the London Metal Exchange Index of prices for six industrial metals, including copper, zinc and aluminum rose 2.2 per cent.

Analysts said rise in lead futures was mostly attributed to a firm trend in base metals overseas after China refrained from raising borrowing costs even as inflation surged, and increased imports by the world's largest consumer boosted the outlook for global demand.