Lead futures gain on overseas trend,spot demandhttps://indianexpress.com/article/business/commodities/lead-futures-gain-on-overseas-trend-spot-demand-2/

Lead futures gain on overseas trend,spot demand

Lead futures prices today edged up by 0.17 per cent to Rs 120.55 per kg.

Tracking a recovery in base metals in the overseas market,lead futures prices today edged up by 0.17 per cent to Rs 120.55 per kg after speculators enlarged positions.

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

At the Multi Commodity Exchange,lead for delivery in September traded 20 paise,or 0.17 per cent,higher at Rs 120.55 per kg,with a turnover of 932 lots.

The metal for delivery in October also rose by a similar margin to Rs 120.60 per kg,with a business volume of 260 lots.

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Marketmen said creation of fresh positions by speculators,driven by a firm trend in copper and other base metals overseas,influenced lead prices at futures trade here. Further,rising demand from battery- akers also supported the upside in metal prices,they said.