 "Lead declines by 0.26% as demand slackens")
Lead prices weakened 0.26% to Rs 113.25 per kg in futures trade today as speculators offloaded positions prompted by subdued demand in the spot market amid a weak trend in base metals at the London Metal Exchange (LME).
At Multi Commodity Exchange, lead for delivery in August shed 30 paise, or 0.26%, to Rs 113.25 per kg in a business turnover of 223 lots.
Metal for delivery in September contracts fell a similar margin to trade at Rs 114.20 per kg in four lots.
Market analysts said a weak trend in the base metal pack at LME after yuan's devaluation shook up commodity market and repriced the value of China's imports and exports of raw materials and a weak demand from battery-makers in the spot market led to the fall in lead prices.
At Multi Commodity Exchange, lead for delivery in August shed 30 paise, or 0.26%, to Rs 113.25 per kg in a business turnover of 223 lots.
Metal for delivery in September contracts fell a similar margin to trade at Rs 114.20 per kg in four lots.
Market analysts said a weak trend in the base metal pack at LME after yuan's devaluation shook up commodity market and repriced the value of China's imports and exports of raw materials and a weak demand from battery-makers in the spot market led to the fall in lead prices.