Lead futures trade higher on spot demand, global cues

An engineer shows lead concentrate which was extracted from ore at the Novoangarsky lead and zinc ore dressing plant on a former riverbed of Angara river near the Siberian settlement of Novoangars, Russia, August 17, 2016. Picture taken August 17, 2016. REUTERS/Ilya Naymushin - S1AETWEYUJAA

Lead futures traded higher by 0.79 percent to Rs 164.90 per kg Monday, as speculators enlarged positions supported by pick up in demand at the domestic spot markets and firm positive cues.

At the Multi Commodity Exchange, lead for delivery in current month traded higher by Rs 1.15, or 0.79 per cent, to Rs 147.05 per kg in a business turnover of 3,493 lots.

Market analysts said, apart from strong demand from battery-makers in the domestic spot markets, a firm trend in the base metals pack overseas, mainly influenced lead futures.