Lead gains by 0.7% on spot demand

Lead prices were up by 0.73% to Rs 111.10 per kg in futures trade today as traders enlarged positions on the back of rising demand from consuming industries in the spot market amid firm global trend.

At the Multi Commodity Exchange, lead for delivery in far-month February traded higher by 80 paise, or 0.73% to Rs 111.10 per kg in business turnover of 20 lots.

Similarly, the metal for delivery in January contracts edged up by 75 paise, or 0.68% to Rs 110.50 per kg in 585 lots.

Market analysts said increasing of positions by participants due to pick up in demand from battery-makers in the spot market and a firm trend in base metals global markets, mainly influenced lead prices at futures trade.