Lead futures up on spot demand

Lead prices traded higher by 40 paise to Rs 157.80 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 October edged higher by 40 paise, or 0.25 per cent, to Rs 157.80 per kg in a business volume of 2,129 lots.

Lead contracts for November delivery traded up by 15 paise, or 0.1 per cent, to Rs 157.90 per kg in a business turnover of 15 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.