Lead down 0.7% on weak spot demand, overseas trends

Futures contracts decline on subdued offtake from battery makers

Lead prices were down by 0.72 per cent to Rs 116.80 per kg in futures trade today amid subdued spot demand at domestic market and weak global cues.

At the Multi Commodity Exchange, the November contract lost 85 paise, or 0.72 per cent, to Rs 116.80 per kg in a business turnover of 28 lots.

The October contract shed 80 paise, or 0.69 per cent, to Rs 115.90 per kg in 759 lots.

Marketmen said the fall in lead futures was due to a subdued demand from battery-makers in the domestic markets and a weakening trend in base metals overseas.