Lead prices down by 0.4% on weak overseas cues

Muted domestic demand also affected prices

Amid weak global cues and muted domestic demand, lead prices were down by 0.38% to Rs 118.85 per kg in futures trading today as participants cut down their bets.

Lead for delivery this month declined by 45 paise, or 0.38% to Rs 118.85 per kg in a business turnover of 244 lots.

On similar lines, the metal for delivery in March contracts declined by 40 paise or 0.33% to Rs 119.40 per kg in 17 lots.

Marketmen said the fall in lead futures was due to a weak trend overseas as industrial metals retreated and sluggish demand at the domestic spot markets from battery-makers.