Lead declines on weak overseas cues, sluggish demand

Amid weak trend in base metals overseas and sluggish spot demand, lead prices fell 0.64% to Rs 109.30 per kg in the futures market today.

At the MCX, lead for delivery in June traded lower by 70 paise, or 0.64%, to Rs 109.30 per kg in business turnover of 195 lots.

The metal for delivery in May was also down by 65 paise, or 0.59%, to Rs 108.90 per kg in a turnover of 2,249 lots.

Market analysts said besides a weakening trend at the London Metal Exchange (LME), subdued demand from battery- makers in the domestic spot market, also weighed down on lead futures prices here.

Globally, at the LME, lead traded a shade lower at $2,034 per tonne in early trade today.