Lead down almost 0.3% on global cues

Weak trend in global base metals behind fall

Lead futures prices today traded lower by 0.28% to Rs 106 per kg as speculators offloaded their positions, tracking a weak trend in base metals in the global markets.

At the Multi Commodity Exchange, lead for delivery in July declined by 30 paise, or 0.28%, to Rs 106 per kg in a business turnover of 3,291 lots.

The August contract traded tad lower by 20 paise, or 0.19%, to Rs 106.65 per kg in 845 lots.

Market analysts attributed fresh weakness in lead futures to a weak global trend, over concerns that demand might be affected after Japan's industrial production unexpectedly declined.

Meanwhile, lead fell 0.5% to $1,914.50 a tonne on the London Metal Exchange.