Lead futures slip on weak global cues, soft demand

Taking weak cues from the global market and sluggish domestic demand, lead fell 0.28 per cent to Rs 124.65 per kg in futures trade today as speculators cut down their bets.

At the Multi Commodity exchange, lead for delivery in September contracts was trading 35 paise, or 0.28 per cent, down at Rs 124.65 per kg in a business turnover of 5 lots.

Metal prices for delivery this month also fell by 25 paise, or 0.20 per cent, to Rs 123.85 per kg in 165 lots.

Market analysts said apart from slackened demand from battery-makers in the domestic spot market, a weak trend in base metals overseas on signs of weak demand in China, the biggest consumer, led to the fall in lead futures prices here.