Lead futures strengthen on uptick in demand

Lead prices traded higher by 0.13 per cent to Rs 154.50 per kg in futures trade on Monday as participants built up fresh positions driven by pick-up in demand at the spot market. On the Multi Commodity Exchange, lead for delivery in September edged higher by 20 paise, or 0.13 per cent, to Rs 154.50 per kg in a business volume of 1,095 lots.

Lead contracts for October delivery traded up by 40 paise, or 0.26 per cent, to Rs 154.70 per kg in a business turnover of 1,133 lots. Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in the physical market mainly helped lead prices to trade higher.