Lead futures down on weak global trend, low domestic demand

Lead fell 0.53 per cent to Rs 104.10 per kg in futures trade today after participants trimmed exposure amid a weak trend overseas and sluggish domestic demand.
At Multi Commodity Exchange, lead for delivery in November contract was trading 55 paise, or 0.53 per cent, down at Rs 104.10 per kg in a business turnover of 277 lots.
Also, metal for delivery in December shed 50 paise, or 0.47 per cent, to Rs 105.10 per kg in two lots.
In the international market, lead sank as much as 1.4 per cent to its lowest since 2010 of USD 1,572 per tonne at the London Metal Exchange (LME).

Analysts said weakness in base metals with most retreating to multi-year low at LME amid concerns over faltering Chinese demand, the dollar trading at its strongest in more than a decade and muted demand from battery-makers in the domestic spot market kept pressure on metal prices.