Lead falls by 1.7% on weak global cues

Lead fell 1.67% to Rs 103.20 per kg in futures trade today after participants trimmed positions amid a weak trend overseas and sluggish domestic demand.

At Multi Commodity Exchange, lead for delivery in November was trading lower Rs 1.75, or 1.67%, at Rs 103.20 per kg in a business turnover of 294 lots.

Metal for delivery in December fell Rs 1.75, or 1.65%, to trade at Rs 104.25 per kg in 18 lots.

Analysts said besides weak demand from battery-makers in the domestic spot market, weakness in base metals at the London Metal Exchange on demand concern in China, the biggest consumer, weighed on lead futures here.