Lead down on weak overseas cues, sluggish demand

Prices down nearly 1% from previous close

Lead futures prices today fell by 0.80% to Rs 104.80 per kg as speculators reduced positions on a weak trend overseas amid subdued demand.

At the MCX, lead for delivery in June shed 85 paise, or 0.80%, to Rs 104.80 per kg, in a business turnover of 9,878 lots.

The metal for delivery in the July also traded lower by 35 paise, or 0.61%, to Rs 105.95 per kg in 830 lots.

Globally, lead traded 1.3% lower at $1,857.50 per tonne at the London Metal Exchange (LME).

Market analysts said apart from subdued domestic demand from battery-makers, weakness in base metals at the LME led to a fall in lead futures prices here.