 "Lead declines 0.27% as demand slackens")
Lead prices weakened 0.27 per cent to Rs 110.50 per kg in futures trade today as speculators offloaded positions prompted by subdued demand in the spot market amid a weak trend in select base metals at the London Metal Exchange (LME).
At Multi Commodity Exchange, lead for delivery in current month was trading 30 paise, or 0.27 per cent, down at Rs 110.50 per kg in a business turnover of 161 lots.
The metal for delivery in January next year was down by a similar margin to trade at Rs 110.50 per kg in 161 lots.
Market analysts said a weak trend in the base metal pack at LME US factory activity in November shrank at the fastest pace since 2009, and a weak demand from battery-makers in the spot market led to the fall in lead prices.
At Multi Commodity Exchange, lead for delivery in current month was trading 30 paise, or 0.27 per cent, down at Rs 110.50 per kg in a business turnover of 161 lots.
The metal for delivery in January next year was down by a similar margin to trade at Rs 110.50 per kg in 161 lots.
Market analysts said a weak trend in the base metal pack at LME US factory activity in November shrank at the fastest pace since 2009, and a weak demand from battery-makers in the spot market led to the fall in lead prices.