Lead down by 1.4% on subdued spot demand

A weak trend in the domestic spot markets due to subdued demand from battery makers affected prices

Lead prices fell by 1.41% to Rs 139.85 per kg in futures trade today as speculators reduced exposures on subdued spot demand and a weak trend in the global market.

 

At the Multi Commodity Exchange, lead for delivery in August fell by Rs 2, or 1.41%, to Rs 139.85 per kg in business turnover of 2,931 lots.

 

The metal for delivery in May also fell by the same margin to Rs 140.145 per kg in a business volume of 409 lots.

 

Marketmen said a weak trend in the domestic spot markets due to subdued demand from battery makers and weakness in copper and other base metals overseas on concerns tapering of stimulus in the US curbs demand of industrial metals.

     

Globally, lead retreated 0.6% to $2,235.50 per tonne at the London Metal Exchange.