Lead futures down on subdued spot demand, global cues

NEW DELHI: Lead prices fell by 0.80 per cent to Rs 130.25 per kg in futures trade today as speculators reduced positions on subdued spot demand amid a weak trend in the entire base metals at overseas markets.

At the Multi Commodity Exchange, lead for delivery in September fell by Rs 1.05, or 0.80 per cent, to Rs 130.25 per kg in business turnover of 196 lots.

The metal for delivery in October also traded lower by Re one, or 0.75 per cent, to Rs 131.80 per kg in a turnover of 105 lots.

Marketmen said besides subdued demand from domestic consuming industries, weakness in copper and other base metals overseas as a budget impasse in the United States threatens to shut down parts of the economy, weighed on lead futures prices here.