 "Lead down 0.1% on sluggish demand, overseas trend")
Lead weakened by 0.15% to Rs 130.35 per kg in futures trade today after participants reduced their exposures amid sluggish demand from battery makers in the spot market and a weakening overseas trend.
At the Multi Commodity exchange, lead for delivery in October shed 20 paise, or 0.15%, to Rs 130.35 per kg in business turnover of 532 lots.
Metal prices for delivery in November fell marginally by 15 paise, or 0.11%, to trade at Rs 131.60 per kg in 8 lots.
Market analysts said apart from subdued demand from battery-makers in the domestic spot market, weak trend at the London Metal Exchange as dealers nervously wait for US lawmakers to agree a budget deal and raise the country's borrowing limit to avert a default, led to a fall in lead futures prices.
At the Multi Commodity exchange, lead for delivery in October shed 20 paise, or 0.15%, to Rs 130.35 per kg in business turnover of 532 lots.
Metal prices for delivery in November fell marginally by 15 paise, or 0.11%, to trade at Rs 131.60 per kg in 8 lots.
Market analysts said apart from subdued demand from battery-makers in the domestic spot market, weak trend at the London Metal Exchange as dealers nervously wait for US lawmakers to agree a budget deal and raise the country's borrowing limit to avert a default, led to a fall in lead futures prices.
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