Lead futures dip 1.67% on global cues
Lead prices declined by Rs 1.95 to Rs 114.95 per kg in futures trading today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, lead for delivery in March declined by Rs 1.95, or 1.67%, to Rs 114.95 per kg, with a business turnover of seven lots.
Similarly, the metal for delivery in April lost Rs 1.85, or 1.58%, to Rs 115.50 per kg, clocking a business volume of five lots.
Market analysts said a weak trend in the entire base metals overseas amid reduced offtake by battery makers, mainly pulled down lead prices at futures trade.
At the London Metal Exchange, lead declined 1.2% to $2,556 a metric tonne.