Lead futures down on global cues, sluggish demand

Taking weak cues from London Metal Exchange and subdued spot market demand, lead prices fell marginally by 0.18% to Rs 112.95 per kg in futures trading today.

At the MCX, lead for delivery in May traded lower by 20 paise, or 0.18%, to Rs 112.95 per kg, with a business turnover of a single lot.

The metal for delivery in June fell by a similar margin to Rs 113.45 per kg, with a business turnover of 55 lots.

Market analysts said apart from sluggish demand in the spot market from battery-makers, lower trend in global markets mainly kept pressure on lead futures prices.

Meanwhile, lead for three-month delivery declined 0.7% to $2,117 a tonne on the London Metal Exchange.