Lead down on sluggish spot demand

Tracking weakness in other base metals and subdued demand from battery-makers, lead futures prices moved down by 0.23% to Rs 108.45 per kg today, even as metal showed some strength at the London Metal Exchange.

At the MCx, lead for delivery in May declined by 25 paise, or 0.23%, to Rs 108.45 per kg, with a business turnover of 2,182 lots.

The June contract shed 20 paise, or 0.18%, to Rs 108.95 per kg, with a business turnover of 147 lots.

Analysts said a weak trend at the domestic spot markets, owing to sluggish demand from battery-makers, mainly put pressure on the lead futures prices here.

Meanwhile, lead declined 0.17% to $2,012 a tonne on the London Metal Exchange.