Lead sheds 0.3% on global trend, subdued demand

Traders trim positions on lower offtake from battery makers, weakness in base metals abroad

Taking weak cues from the global market and sluggish domestic demand, lead fell by 0.30 per cent to Rs 116.85 per kg in futures trade today as speculators trimmed positions.

At the Multi Commodity exchange, lead for delivery in January down by 35 paise, or 0.30 per cent, to Rs 116.85 per kg in business turnover of 108 lots.

Analysts said apart from slackened demand from battery-makers in the domestic spot market, a weak trend in base metals overseas, led to the fall in lead futures prices here.