Spot demand lifts lead futures by 0.84%

Lead prices were higher by 0.84 per cent to Rs 162.10 per kg in futures trade today as participants indulged in creating fresh positions due to pick up in demand from consuming industries in the spot market amid positive global cues.

At the Multi Commodity Exchange, lead for delivery in September edged up by Rs 1.35, or 0.84 per cent, to Rs 162.10 per kg, in a business turnover of 15 lots.

Likewise, the metal for delivery in August traded higher by Rs 1.25, or 0.78 per cent, to Rs 161.35 per kg in 430 lots.

Market analysts attributed the rise in lead futures to fresh positions built up by traders after pick up in demand from battery-makers in the spot market and gains in base metals pack at the London Metal Exchange spurred by Chinese demand.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)