Lead weakens 0.25% on overseas trend

Sluggish demand influences prices

Amid a weak trend in base metals in the global market, lead declined marginally by 0.25% to Rs 119.70 per kg in futures market today as speculators reduced positions.

At the Multi Commodity Exchange, lead for delivery in October declined by 30 paise, or 0.25%, to Rs 119.65 per kg, with a business turnover of 1,887 lots.

November lead fell by a similar margin to trade at Rs 119.70 per kg, with a business turnover of 86 lots.

Marketmen said apart from slackened domestic demand, a weak trend in base metals in global markets ahead of data that may add to signs of economic weakness in Europe put pressure on the lead prices at futures trade.