 "Lead down by 1% on weak global cues")
Lead prices declined by 1.02% to Rs 111.80 per kg in futures trade today as participants reduced their positions amid a weak trend in base metals overseas.
Further, subdued demand at domestic spot markets too weighed on prices.
At the Multi Commodity Exchange, lead for delivery in July month contracts was down by Rs 1.15, or 1.02% to Rs 111.80 per kg in business turnover of 409 lots.
Marketmen attributed the fall in lead futures to trimming of positions by speculators taking weak cues from London Metal Exchange (LME) it fell to the lowest level in two weeks as industrial metals retreated amid concern about slowing demand in China, the world's biggest consumer, and prospects for higher US interest rates.
Globally, at LME, lead fell by 1.3%.
Further, subdued demand at domestic spot markets too weighed on prices.
At the Multi Commodity Exchange, lead for delivery in July month contracts was down by Rs 1.15, or 1.02% to Rs 111.80 per kg in business turnover of 409 lots.
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On similar lines, the metal for delivery in August shed Rs 1.10, or 0.96% to trade at Rs 113.10 per kg in 20 lots.
Marketmen attributed the fall in lead futures to trimming of positions by speculators taking weak cues from London Metal Exchange (LME) it fell to the lowest level in two weeks as industrial metals retreated amid concern about slowing demand in China, the world's biggest consumer, and prospects for higher US interest rates.
Globally, at LME, lead fell by 1.3%.
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