Lead futures up on overseas trend, spot demand

Tracking a firming trend in base metals in the overseas market, lead futures prices today edged up by 0.61 per cent to Rs 114.80 per kg after speculators enlarged their positions.

Pick-up in demand from battery-makers also helped lead to trade higher at futures trade.

At the Multi Commodity Exchange, lead for delivery in November traded 70 paise, or 0.61 per cent higher, at Rs 114.80 per kg, with a turnover of 154 lots.

The metal for delivery in October also rose by 60 paise, or 0.53 per cent, to Rs 114.60 per kg, with a turnover of 1,1421 lots.

Marketmen said besides domestic demand, a firm trend in copper and other base metals at the London Metal Exchange (LME) after data showed China's industrial production, retail sales and fixed-asset investment accelerated in September, boosted demand outlook for base metals, supporting the upside in lead futures prices. Globally, lead traded 0.40 per cent higher at the LME in early trade today.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.