Lead down 1.2% on subdued spot demand, global cues

Marketmen said weakness in copper and other base metals overseas curbed demand for industrial metals

Lead prices fell by 1.24% to Rs 139.90 per kg in futures trade today as speculators trimmed exposure on subdued spot demand amid a weak trend in the base metals in global markets.

At the Multi Commodity Exchange, lead for delivery in September fell by Rs 1.75, or 1.24%, to Rs 139.90 per kg in business turnover of 1,155 lots.

The metal for delivery in October also fell by Rs 1.75, or 1.23%, to Rs 140.65 per kg in a turnover of 71 lots.

Marketmen said besides subdued demand from domestic consuming industries, weakness in copper and other base metals overseas on speculation of tapering of stimulus in the US curbed demand for industrial metals.