Lead futures gain 0.45% on global cues, spot demand
Lead futures prices today rose by 0.45% after participants created positions, taking positive cues from global markets.
Besides, pick-up in spot market demand from battery makers also helped lead to trade higher at futures trade.
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At the MCX, lead for delivery in June traded 45 paise, or 0.45%, higher at Rs 100.65 per kg, with a turnover of 667 lots.
The July contract also rose by 45 paise, or 0.44%, to Rs 102.40 per kg, in a turnover of 537 lots.
Analysts said fresh positions by speculators, helped by a firming trend in the base metals pack at the London Metal Exchange (LME) after Euro region leaders agreed to drop the condition that emergency loans to Spanish banks give their governments preferred creditor status.
Meanwhile, at the LME lead rose 1% to USD 1,794 a tonne.