Lead futures down on weak overseas cues, sluggish demand

NEW DELHI: Lead futures prices today fell by 0.80 per cent to Rs 104.80 per kg as speculators reduced positions on a weak trend overseas amid subdued demand.

At the Multi Commodity Exchange, lead for delivery in June shed 85 paise, or 0.80 per cent, to Rs 104.80 per kg, in a business turnover of 9,878 lots.

The metal for delivery in the July also traded lower by 35 paise, or 0.61 per cent, to Rs 105.95 per kg in 830 lots.

Globally, lead traded 1.3 per cent lower at USD 1,857.50 per tonne at the London Metal Exchange (LME).

Market analysts said apart from subdued domestic demand from battery-makers, weakness in base metals at the LME led to a fall in lead futures prices here.