Lead futures weaken by 2.33% on weak global cues

Lead prices moved down by 2.33 per cent to Rs 155.30 per kg in futures trade today as speculators cut down their positions, taking negative cues from overseas markets.

At the Multi Commodity Exchange, lead for delivery in July fell by Rs 3.70, or 2.33 per cent, to Rs 155.30 per kg in business turnover of 1,467 lots.

Similarly, the metal for delivery in August contracts shed Rs 3.55, or 2.23 per cent, to Rs 156 per kg in 76 lots.

Analysts said offloading of positions by traders owing to weak trend in base metals in global markets, led to the decline in lead prices at futures trade.

 

Meanwhile, lead for delivery in three months was down 2.1 per cent on the London Metal Exchange.