Quick Conversions
The Domestic Rate Both Benchmarks Feed — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
Two Benchmarks Behind One Lead Price
Today's LME-linked lead rate works out to ₹0.17 per gram, or ₹166.28 per kilogram, as of September 17, 2026. Ask three different people where that number comes from and you'll likely get three different answers — LME, MCX, and "spot price" — even though all three are really describing the same underlying market from slightly different angles.
The London Metal Exchange is where the global lead price actually gets discovered: dollars per tonne, deep trading volume, a contract history running back more than a century. MCX, India's Multi Commodity Exchange, is the domestic futures market that converts that global signal into a rupee-per-kilogram number local traders and industrial buyers can act on directly. "Spot price" sits alongside both, referring simply to the rate for immediate delivery rather than a forward-dated contract.
- Per gram: ₹0.17
- Per kilogram: ₹166.28
- Per metric tonne: ₹166,276.00
Today's LME-Linked Rate by Weight
Today's Lead rate is Less than One Rupees per gram. At this rate, 10 grams of Lead costs Two Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹0.17 | Less than One Rupees |
| 8 Grams | 8.0000 g | ₹1.33 | One Rupees |
| 10 Grams | 10.0000 g | ₹1.66 | Two Rupees |
| 100 Grams | 100.0000 g | ₹16.63 | Seventeen Rupees |
| 1 Kilogram | 1,000.0000 g | ₹166.28 | One Hundred and Sixty Six Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹4.71 | Five Rupees |
| 1 Troy Ounce | 31.1035 g | ₹5.17 | Five Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹166,276.00 | One Lakh Sixty Six Thousand Two Hundred and Seventy Six Rupees |
Why the Two Numbers Never Line Up Exactly
Convert LME's dollar-per-tonne quote into rupees and stack it against MCX, and you'll almost always find a gap. That gap isn't a mistake in either market — it's the cost of moving lead, and the price discovery of a position, between two different trading systems.
What actually creates the spread
Import duty and freight on physical lead entering India, local dealer premiums that reflect domestic supply conditions, and the plain fact that MCX trades during Indian market hours while LME activity continues later into the evening — all of it adds up. The USD/INR exchange rate at the specific moment of comparison layers another variable on top, since it moves independently of whatever lead itself is doing.
Neither benchmark is "more correct." LME answers what lead costs in the deepest global market; MCX answers what it costs to take lead exposure domestically, in rupees, with India-specific costs already folded in. A battery manufacturer negotiating a rupee invoice cares about the second question far more than the first.
LME-Linked Lead Rate — Last 10 Days
The most recent Lead price on record (2026-09-17) is Less than One Rupees per gram.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹0.17 | +0.00 |
| 2026-09-16 | ₹0.17 | +0.00 |
| 2026-09-15 | ₹0.16 | +0.00 |
| 2026-09-14 | ₹0.16 | 0.00 |
| 2026-09-13 | ₹0.16 | +0.00 |
| 2026-09-12 | ₹0.16 | 0.00 |
| 2026-09-11 | ₹0.17 | 0.00 |
| 2026-09-10 | ₹0.17 | +0.00 |
| 2026-09-09 | ₹0.17 | +0.00 |
| 2026-09-08 | ₹0.17 | — |
Which Number Actually Matters for You
If you're buying lead ingot, quoting scrap, or trading MCX futures from India, the domestic rupee figure — this page's benchmark, or MCX itself — is the one that shows up on an actual invoice or trading account. LME's overnight session is still worth watching, though, because a sharp move in London routinely sets the tone for how the domestic rate opens the next morning, well before Indian markets have their own say.
None of this changes what actually moves the price underneath both exchanges: battery demand, recycled-scrap supply, and the usual mix of industrial activity covered in more depth on the site's what affects lead price page. LME and MCX are two windows onto the same market, not two separate stories — and neither one, on its own, can tell you where that market goes next.
LME vs MCX Lead — FAQs
LME lead is the price discovered on the London Metal Exchange, the world's primary reference market for lead. It's quoted in US dollars per tonne, and it's the benchmark that domestic Indian rates — MCX included — ultimately trace back to once converted into rupees.
MCX lead is the lead futures contract traded on India's Multi Commodity Exchange, quoted in rupees per kilogram. It gives Indian traders, battery manufacturers and scrap dealers a rupee-denominated way to track and hedge lead prices without dealing in LME contracts directly.
Spot price refers to the price for immediate delivery, as opposed to a futures contract settling at some later date. When someone says "lead spot price" they usually mean the current cash-market rate — the same reference point this page's benchmark tracks — rather than a forward MCX or LME contract priced for a future month.
They're different contracts, in different currencies, with different delivery terms, so a direct comparison always needs a USD/INR conversion first. On top of that, import duty, freight, local dealer premiums and the plain timing difference — MCX trades during Indian hours while LME activity runs later into the evening — all add gaps a currency conversion alone won't explain.
If you're transacting in India, MCX (or a domestic benchmark like this page's) is the more directly actionable number. But since MCX takes its cue from LME with a short lag, watching LME's overnight movement gives an early read on which direction the domestic rate is likely to open.
