Lead down by 0.3% as global trend weakens

Lead fell 0.31% to Rs 113 per kg in futures trade today after participants reduced exposure amid a weak trend overseas and sluggish domestic demand.

At Multi Commodity Exchange, lead for delivery in September month contract was trading 35 paise, or 0.31%, down at Rs 113 per kg in a business turnover of six lots.

Also, metal for delivery this month shed 30 paise, or 0.27% to Rs 111.95 per kg in 312 lots.

Analysts said weakness in base metals at the London Metal Exchange after China devalued its exchange rate in a move that helps exports and makes imports more expensive for the world's biggest producer and consumer of metals weighed on lead futures here.
 
Furthermore, muted demand from battery-makers in the domestic spot market kept pressure on metal prices, they said.