Lead down 0.5% on global cues

A weakening trend in base metals at the LME affected prices

Lead prices eased by 0.55% to Rs 127.35 per kg in futures trade today in tandem with a weakening trend in base metals at the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for delivery this month eased by 70 paise, or 0.55%, to Rs 127.35 per kg in a business turnover of 383 lots.

The metal for delivery in January next year also fell by 60 paise, or 0.47%, to Rs 128 per kg with a business volume of 17 lots.

Marketmen said a weak trend in base metals pack at the LME after a gauge of manufacturing strength fell to an eight-month low in China, the largest consumer of metals, and subdued demand from battery-makers at domestic markets, mainly kept pressure on lead futures here.