Lead sheds 0.26% on sluggish demand, overseas cues

Analysts cite lower offtake from battery makers, weakness in base metals on LME for drop in prices

Lead prices fell 0.26 per cent to Rs 116.50 per kg in futures trading today due to sluggish demand from battery-makers in the spot market amid a weak global trend.

At the Multi Commodity exchange, lead for delivery in current month eased by 30 paise, or 0.26 per cent, to Rs 116.50 per kg in business turnover of 1,205 lots.

The November contract shed 25 paise, or 0.21 per cent, to Rs 117.50 per kg in 27 lots.

Market analysts said besides sluggish demand from battery-makers in the spot market, a weak trend in the base metals pack at the London Metal Exchange mainly kept pressure on lead prices at futures trade.