Lead down 0.1% on subdued demand, overseas cues

Metal for delivery in November slipped marginally by 0.04%

Lead prices slipped by 0.09% to Rs 128.65 per kg in futures trading today as speculators reduced positions due to sluggish demand from battery-makers in the spot market amidst a weak global trend.

At the Multi Commodity exchange, lead for delivery in October fell by 10 paise, or 0.09%, to Rs 128.65 per kg in a business turnover of 200 lots.

The metal for delivery in November slipped marginally by 5 paise, or 0.04%, to Rs 129.55 per kg in just one lot.

Market analysts said besides the sluggish demand from battery-makers in the spot market, a weak trend in base metals at the London Metal Exchange on demand concerns after the IMF trimmed its global growth forecast, mainly kept pressure on lead prices at futures trade.