Lead inches up in futures trade on spot demand

NEW DELHI: Supported by a firming trend in the global markets, lead prices inched up by 0.19 per cent to Rs 104.40 per kg in futures trade today.

Besides, pickup in demand at domestic spot markets from battery makers also supported the sentiment.

At the Multi Commodity Exchange, lead for delivery in July traded marginally higher by 20 paise, or 0.19 per cent, to Rs 104.40 per kg, with a business turnover of 592 lots.

Likewise, the metal for delivery in August edged up by 10 paise, or 0.10 per cent, to Rs 105.35 per kg in 95 lots.

Market analysts said a firming trend in base metals at the London Metal Exchange on speculation that central banks from Europe, Japan and the US will take steps to spur economic growth, increased demand for industrial metals, influencing lead prices at futures trade.