Home CommodityLEAD

LEAD

196.00

0.75 (0.38%)

as on 18 Sep 2026 at 01:12 PM

MCX

Upcoming Expiry30 Sep

Days For Expiry13

LEAD

196.00

0.75 (0.38%) profit

as on 18 Sep 2026 at 01:12 PM

MCX

Futures 15-Mins Built Up

Live Chart

LEAD Futures Snapshot

Monthly Contracts	Days for Expiry	LTP	Change	Change %	Volume	Open Interest	OI Change %
LEAD SEP FUT	13	196.00	0.75	0.38	50	700	-0.71
LEAD OCT FUT	43	195.50	0.00	0.00	0	286	0.00
LEAD NOV FUT	74	202.15	0.00	0.00	0	200	0.00

About LEAD Futures

India is one of the largest consumers of lead-acid batteries in the world. Lead has multiple uses, ranging from being used in car batteries to storing energy in backup power systems. The diverse use cases of lead make it popular across India and the globe.

LEAD futures on MCX track this industrial metal. One lot is 5 metric tonnes. Traders use it to bet on battery demand, recycling supply, and global metal flows. For anyone exposed to lead prices, this contract is the standard hedge.

For traders, LEAD futures offer direct exposure to industrial metal prices. You get price action without handling ingots. You manage risk without warehouse visits. Your MTM settles in rupees. That is the access.

Factors influencing LEAD futures prices

There are a number of factors that drive futures prices for LEAD.

Battery demand sets the base: Lead-acid batteries are used in cars, trucks, two-wheelers, and inverters. As car sales increase, so does the demand for lead. The price breaks when sales are down. Track auto production, month-by-month.

Recycling supply is vital: The majority of the lead is found in recycled batteries, not fresh mines. The lower the scrap collection, the tighter the supply. The fewer scraps there are, the stronger the prices will get.

The mining supply is concentrated: Australia, China, and Peru produce most of the output. Labour strikes or restrictions on exports and environmental shutdowns create supply constraints. The price responds in hours.

The worldwide price is anchored in London Metal Exchange (LME) prices: LME lead futures are the international standard. If LME moves, so does MCX. The local filter is the USD/INR rate.

The rupee matters: The international price for lead is in dollars. A weaker rupee pushes MCX prices up. You are charged in rupees even if LME doesn't move. Watch USD/INR closely.

Environmental regulations shape supply: China is forcing companies to shut down smelters for breaches of pollution rules. The Indian government has made stricter rules regarding battery recycling. These rules decrease the amount available. The higher the compliance costs, the higher the prices.

LME warehouse stocks are an indicator of equilibrium: As stocks drop, there is a physical tightening as well. If stocks are up, then there is plenty of supply. The traders pay attention to these numbers on a weekly basis.

Seasonal industrial cycles: The festival season, coupled with construction sites, has a high demand. Sometimes, offtake can be temporarily alleviated by monsoon slowdowns.

How are LEAD futures prices determined?

LEAD futures prices are not random. They are well organized and meaningful.

The base is the LME lead price:
The benchmark is the futures contract on the LME. These are closely linked to the prices of the MCX.

The rupee adds a local layer:
As the price of lead is quoted in US dollars globally, the price movements of USD/INR directly reflect the price movements on MCX. If there is devaluation of the rupee, there is an increase in prices. In the face of a rising rupee, the gains are capped.

Import duties and GST are imposed on top:
India imposes taxes on metal imports. These taxes are included in the home price. Futures move instantly if there is any change in the duty structure.

Cost of carry includes financing and storage costs:
It's not free to hold a lead. This is reflected in futures prices. When the futures price becomes greater than the spot price, the futures market is in contango. When below, backwardation.

Premiums and discounts that are local will be found near their expiration dates:
These are real-time market data of Chennai, Thane, NCR, and Kolkata. They are generally short-term in liquid contracts.

All this is available on the LEAD futures live price. Both the seller and buyer negotiate on the screen. This results in continuous price discovery.

Key metrics to consider while trading LEAD futures

These numbers define how the contract behaves. Know them before you place a trade.

Lot size: The size of one contract is 5 metric tonnes. This is the standard lead lot on MCX. Measuring equates to medium sizes accounts.
Tick size: The minimum price change is 5 paise per kg. The cost of one lot is ₹250 per tick. When trading size, it's the small moves that count.
Trading session: Trading runs Monday through Friday, from 9:00 a.m. to either 11:30 p.m. or 11:55 p.m., depending on US daylight saving time.
Contract expiry: The expiration date for LEAD contracts is the last calendar day of the expiration month. If that day is a holiday, the preceding working day. Please consult the schedule prior to entry.
Initial margin: At least 8% or as per SPAN, whichever is greater. This is clearly shown by Dhan before trading.
Mark-to-Market (MTM): They are settled by the closing price every day. Gains are credited. Losses are debited. Same day.
Open Interest (OI): Contracts still open. Not closed. With an increase in price, there must be an increase in OI, which signifies a fresh purchase. Increase in OI as price declines is a new shorting cycle.
Basis: Spot price minus futures price. This narrows as expiry approaches. A wide basis can signal arbitrage opportunities.
Daily Price Limit (DPL): The narrower slab is 4%. When breached, it relaxes to 6% without cooling off. If 6% is breached, after a 15-minute cooling period, it expands to 9%. Size your trades to survive limit hits.
Maximum order size: 100 MT. This caps how much you can place in a single order.
Quality specifications: The lead ingots are required to maintain a purity level of at least 99.98%. MCX-approved brands and LME-approved brands are both accepted.

How to read LEAD futures data?

On the LEAD futures page at Dhan, several data points appear. Each one adds a layer to your read.

LEAD futures live price: This shows the current traded level of the most active contract. It is where buyers and sellers are matching right now.

LEAD futures today data: This includes open, high, low, and last traded price. The difference between high and low shows intraday volatility.

LEAD futures chart: This plots historical price action across timeframes. You can view 1-minute, 5-minute, 15-minute, daily, weekly, or monthly charts. Traders use these to spot support, resistance, and trend direction.

Volume: This is the number of contracts traded in the session. A price move on high volume carries more weight than one on thin volume.

OI: This tells you how much capital sits in open positions. If price rises and OI rises, the trend has backing. If price rises and OI falls, the move may be short-covering.

Bid-ask spread: This is the gap between the best buy and sell prices. A narrow spread means the contract is liquid. A wide spread signals lower activity.

Benefits of trading LEAD futures

Direct price exposure: You get the same lead price move as physical traders. Without the warehouse. Without the transport.
Hedging for battery makers: It helps manufacturers to secure the input costs. Recyclers can find the prices for scrap. This is a practical approach to risk management.
Transparency: MCX is SEBI-regulated. Prices are public. Settlement follows rules. The counterparty risk is low.
No physical handling: No storage warehouses are required. Quality certification is not required. If you decide to hold, the exchange will take care of delivery.
Liquidity: LEAD is an active base metal contract on MCX. Spreads are manageable. Entry and exit are smooth.

Most commonly used strategies in LEAD futures

There are a couple of common setups that traders use.

Directional trade: Purchase when you think lead prices will go up. Sell when you think they will drop. This is the easiest way. Relative position to the margin is key.
Calendar spread: Purchase one month's expiration. Sell another. Profit is determined by the difference in price from one month to the next, rather than the price itself. Lower margin. Higher returns than outright positions.
Hedging: Lead is a physical commodity, and a battery manufacturer has the physical lead stock to sell LEAD futures to lock-in prices. If it drops, the futures earnings compensate for the physical loss.
Basis trade: Speculate on the gap between Chennai spot and MCX futures. When the basis is wide, it may revert. This calls for knowledge of both markets.
Pair trade: Trade against another base metal, such as zinc or aluminum. If the ratio of any one pair of metals deviates from historic levels, then it may return. This minimises the direction of risk.
Range trade: Buy near support. Sell near resistance. This works at times when lead is range-bound. It fails when the trend reverses. Know when to stop.

How to trade LEAD futures on Dhan?

Open your account: Create a commodity trading account on Dhan. Complete full KYC with a registered broker. Activate the MCX segment separately.
Add funds: Transfer money to your trading account. Ensure sufficient margin for your LEAD futures positions. Keep a buffer for daily MTM settlements.
Pick your contract: Choose your expiry month. Near-month contracts usually have the best liquidity. Each lot is 5 metric tonnes.
Read the market data: Analyse the LEAD futures price alongside OI, volume, and trends. Check the LEAD futures chart for support and resistance levels.
Place your trade: Use market orders for quick fills. Use limit orders for precision. Set quantity in lots. One lot is 5 metric tonnes.
Track your position: Monitor price movements, OI shifts, and MTM adjustments. Lead is sensitive to auto sector news. Production data can move prices fast.
Adjust when needed: Set stop-loss at entry. Modify or exit based on market action. Do not let a small loss grow. Cut it.
Know the contract type: LEAD futures follow daily MTM settlement. Profits and losses are credited or debited at the end of each session. Not just at expiry. Contracts are subject to compulsory delivery on expiry. The delivery unit is 5 MT with a tolerance limit of plus or minus 10%. Square off before if you do not want delivery obligations.

Tips for trading LEAD futures effectively

These practices help you manage risk and read the market more clearly.

Track auto sales data: Battery demand drives lead consumption. When car and two-wheeler sales rise, lead prices firm up. When sales slow, prices soften. Monthly SIAM data is your signal.
Watch LME inventory reports: Warehouse stock levels signal global balance. Falling stocks mean tightness. Rising stocks mean comfort. These reports are released weekly.
Monitor USD/INR movements: A weaker rupee pushes MCX prices up even if LME is flat. A stronger rupee caps gains. Currency is half the equation.
Check multiple chart timeframes: A trend visible on the daily chart may not match the one on the hourly chart. Align both before entering a position. Use Dhan's Custom Timeframes to set India-specific intervals.
Use the Dhan Trade Plan for position sizing: Trade Plan is a built-in tool on Dhan Charts. Enter your capital allocation percentage, risk percentage, and reward percentage. It calculates the exact quantity, stop loss level, and target price automatically. This removes guesswork from sizing.
Respect environmental policy shifts: China and India have both tightened smelter norms. These rules can remove the supply overnight. Track policy announcements from both countries.
Understand staggered delivery: The last 3 trading days involve compulsory delivery marking. On tender days, the delivery order rate is the closing price (weighted average of the last half an hour). On expiry, it is the DDR. If you do not want a physical settlement, exit before this window.
Square off before expiry if you do not want delivery: LEAD contracts involve physical settlement. Most retail traders do not take delivery. Exit well before the last trading day. Avoid complications.

FAQs

What is 1 lot size of LEAD futures?

1 lot of LEAD Futures on MCX is 5000.

What is the trading time for LEAD futures?

The trading time of LEAD futures is:

April to October - 9:00 AM to 11:30 PM
November to March - 9:00 AM to 11:55 PM

When is the upcoming LEAD futures expiry?

The upcoming futures expiry of LEAD on 30 Sep 2026.

Are LEAD futures settled in cash or via physical delivery?

At the end of the day, all the positions are auto squared off. Meaning, the derivatives are settled in cash. At present, the physical delivery of Commodity position is not allowed.