MUMBAI (Commodity Online): MCX Lead March futures has risen 3.78% to Rs 109.75 on Monday trading due to better US jobs data, weakening of US Dolar against Euro and falling lead inventories.

Angel Commodities have given the following support levels for MCX Lead December contract: Rs 106.85/105.85 and resistance at Rs 109.10 and Rs 110.40. Indian market for lead remained sluggish in November on declining passenger car sales. This translates into lower demand for batteries. Going ahead, Christmas season is weak for lead demand while a global recovery in metals demand hinges on the outcome of the efforts to end Eurozone crisis and higher liquidty on easing of bank rates in several countries, including China.

"We expect base metals to trade with a positive bias today on account of a weaker dollar coupled with rise in risk appetite in the global markets due to easing concerns over Euro Zone debt worries," Angel Commodities said. LME 3 month Lead contract traded last at $2105.8 registering a marginal recovery over previous close. The contract gain over five percent last week on broadbased metals recovery.

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