Lead futures down on subdued domestic demand

Tracking a weak trend overseas and subdued domestic demand, lead futures traded marginally lower at Rs 122.65 per kg today as participants lightened their holdings.

In futures trading at Multi Commodity Exchange, lead for delivery in March shed 15 paise, or 0.12 per cent, to Rs 122.65 per kg in a moderate business turnover of 563 lots.

Also, metal for delivery in April fell 5 paise, or 0.04 per cent, to Rs 123.15 per kg in a turnover of 57 lots.

Analysts said that besides subdued demand from battery-makers and other consuming industries at the domestic spot market, a weak trend in select base metals at the London Metal Exchange weighed on lead futures prices here.