NEW DELHI, July 30: Lead futures rose 0.26 per cent to Rs 134.30 per kg today as participants enlarged positions amidst rising demand from battery-makers in the domestic spot market even as metal weakened overseas on rising inventories.
At the Multi Commodity Exchange, lead for delivery in July traded higher by 35 paise, or 0.26 per cent, to Rs 134.30 per kg, with a turnover of 545 lots.
The metal for delivery in August gained 10 paise, or 0.07 per cent, to Rs 134.90 per kg in a business volume of 263 lots.
Analysts said pick up demand from battery-makers at the spot markets, influenced lead prices at futures trade but metal’s weakness at the London Metal Exchange (LME), limited the gains.
Globally, lead for delivery in three months contracts at the LME fell as much as 1.2 per cent to USD 2,239.75 a metric tonne.
Meanwhile, LME lead inventories climbed for the third time in four days to 214,650 tons, the highest since January 6, bourse data showed yesterday. (PTI)
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