Lead futures down on subdued spot demand, global cues

Lead eased 0.58 per cent, to Rs 119.40 per kg in futures trade today largely due to subdued spot demand and weak global cues.
At the Multi Commodity Exchange, the June contract of lead fell by 70 paise, or 0.58 per cent, to Rs 119.40 per kg in a business turnover of six lots.
The May contract of the metal declined by 65 paise, or 0.54 per cent, to Rs 118.85 per kg in 286 lots.
Marketmen said the fall in lead futures was due to a subdued demand from battery-makers at domestic markets and a weakening trend in base metals in the global makret on concerns over disappointing China's latest PMI data.

China's April official manufacturing purchasing managers index fell to 50.1 from 50.2 in March, signaling a modest weakening of momentum for the world's second-largest economy despite easy-credit policies and a stronger real-estate market.Slowing economy.