Lead trades lower on global cues, subdued demand

Amid weak trend in global markets and sluggish demand in spot market, lead prices fell by 0.49% to Rs 102.45 per kg in futures trade today.

At the Multi-Commodity Exchange, lead for delivery in March traded 50 paise, or 0.49% lower, at Rs 102.45 per kg in business turnover of 21 lots.

The February contract edged lower by 45 paise, or 0.44%, to Rs 100.85 per kg in 494 lots.

Analysts said apart from subdued demand from battery makers in the spot market, a weakening global trend due to delay in decision on second bailout for Greece, mainly kept pressure on lead futures.

 

Meanwhile, lead traded a shade lower at $2,060 per tonne at the London Metal Exchange in early trade today.