Lead sheds 1% on overseas cues

Subdued demand from battery makers at home fuels downtrend

Lead weakened by 1.06 per cent to Rs 135.20 per kg in futures trade today largely in tandem with a weak trend overseas and subdued demand from battery-makers in the domestic spot market.

At the Multi Commodity exchange, lead for delivery in July fell by Rs 1.45, or 1.06 per cent, to Rs 135.20 per kg in business turnover of 264 lots.

The August contract traded lower by Rs 1.40, or 1.02 per cent, to Rs 135.55 per kg in 181 lots.

Marketmen said besides subdued demand from battery-makers in the domestic spot market, a weak trend in copper and other base metals at the London Metal Exchange, put pressure on lead prices at futures trade.