Lead down 0.55% on weak global cues

Traders pare exposure as metal loses in overseas markets

Lead prices were down by 0.55 per cent to Rs 136.20 per kg in futures trade today as speculators reduced their exposures, taking weak cues from the global markets.

Besides, subdued demand at domestic spot markets form battery-makers, weighed on prices.

At the Multi Commodity Exchange, lead for delivery in August traded lower by 75 paise, or 0.55 per cent, to Rs 136.20 per kg, with a turnover of 482 lots.

The September contract lost 60 paise, or 0.44 per cent, to Rs 136.55 per kg in a business turnover of 17 lots.

Market men said offloading of positions by speculators tracking a weak trend in select base metals overseas, led to a marginal fall in lead futures here.