 "Lead declines 0.13% as demand slackens")
Lead prices weakened by 0.13 per cent to Rs 116.20 per kg in futures trade today as speculators offloaded positions driven by subdued demand in the spot market amid a weak trend in base metals at the London Metal Exchange (LME).
At Multi Commodity Exchange, lead for delivery in November shed 15 paise, or 0.13 per cent, to Rs 116.20 per kg in business turnover of 28 lots.
The October contract traded lower by 10 paise, or 0.09 per cent, to Rs 115.20 per kg in 953 lots.
Market analysts said a weak trend in base metal pack at the LME on concern that demand was weakening in China, and subdued demand from battery-makers in the domestic spot market mainly led to the decline in lead prices in futures trade.
At Multi Commodity Exchange, lead for delivery in November shed 15 paise, or 0.13 per cent, to Rs 116.20 per kg in business turnover of 28 lots.
The October contract traded lower by 10 paise, or 0.09 per cent, to Rs 115.20 per kg in 953 lots.
Market analysts said a weak trend in base metal pack at the LME on concern that demand was weakening in China, and subdued demand from battery-makers in the domestic spot market mainly led to the decline in lead prices in futures trade.