Market and product

Lead prices traded higher by 0.72% to Rs 118.80 per kg in futures trading today as traders enlarged their positions, driven by pick-up in demand at the spot market.

Besides, a firming trend in base metals at the London Metal Exchange (LME) supported the upside.

At Multi Commodity Exchange, lead for delivery in March edged up by 85 paise, or 0.72% to Rs 118.80 per kg in a business turnover of 102 lots.

Likewise, the metal for delivery in February contracts traded higher by 75 paise, or 0.64%, to Rs 118.10 per kg in 1,086 lots.

Market analysts said increasing of positions by participants following pick-up in demand from battery-makers in the spot market amid a firming trend in the base metals pack at the LME, mainly influenced lead prices at futures trade.

Globally, at the London Metal Exchange lead was up 1.9%.