Lead down 0.9% on overseas trend

Subdued demand from battery-makers influences prices

Lead futures fell by 0.91% to Rs 120.05 per kg today after speculators reduced their positions amid a weak trend at the London Metal Exchange.

Subdued demand from battery-makers at the domestic spot markets put pressure on lead futures prices here.

At the Multi Commodity Exchange, lead for delivery in October fell by Rs 1.10, or 0.91%, to Rs 120.05 per kg, with a business turnover of 393 lots.

September lead shed Rs 1.05, or 0.87%, to Rs 119.90 per kg, with business volume of 1,614 lots.

Lead traded $17, or 0.74%, lower at $2,2715 per tonne at the London Metal Exchange (LME) in early trade today.

 

Marketmen said besides subdued demand at domestic spot markets from battery-makers, a weak trend in copper and other base metals at the LME, weighed down by a firmer dollar and concerns over Europe's debt crisis, put pressure on lead futures prices.