Lead down on subdued demand, global cues

August delivery traded lower by 20 paise to Rs 105 per kg

Lead prices traded lower by 0.24% to Rs 104.35 per kg in futures trade today on subdued domestic demand amid a weak trend in overseas markets.

At the Multi Commodity Exchange, lead for delivery in July shed 25 paise, or 0.24%, to Rs 104.35 per kg, with a business turnover of 243 lots.

Likewise, the metal for delivery in August traded lower by 20 paise, or 0.19%, to Rs 105.55 per kg, with a business turnover of nine lots.

Marketmen said subdued domestic demand and a weak trend in global markets after interest-rate cuts in Europe and China failed to assure investors that the measures will be enough to boost economic growth led to a fall in lead futures prices here.

Meanwhile, lead slipped 0.8% to $1,871.75 a tonne on the London Metal Exchange.