Lead down 0.67% on subdued demand

Firm trend in base metals overseas restricts losess

Tracking a weak trend in the spot markets on subdued demand, lead prices moved down by 0.67% to Rs 104.50 kg in futures trade today as speculators reduced their positions.

At the Multi Commodity Exchange, lead for delivery in September fell by 70 paise, or 0.67%, to Rs 104.50 per kg, with a business turnover of 194 lots.

The August contract weakened by 65 paise, or 0.62%, to Rs 103.45 per kg, with a business turnover of 2,279 lots.

Marketmen said subdued domestic demand from battery makers put pressure on the lead futures prices but a firm trend in base metals at the London Metal Exchange restricted the losses.