 "Lead weakens by 0.3% on overseas cues")
Lead weakened by 0.35% to Rs 129.05 per kg in futures trade today largely in tandem with a weak trend overseas and subdued demand from battery-maker in the domestic spot market.
At the Multi Commodity exchange, lead for delivery in June weakened by 45 paise, or 0.35%, to Rs 129.05 per kg in business turnover of 377 lots.
Similarly, the metal for delivery in July contract traded lower by similar margin to Rs 130.20 per kg in 33 lots.
Analysts said besides subdued demand from battery-makers in the domestic spot market, a weak trend in copper and other base metals at the London Metal Exchange on signs of slowing demand in China, put pressure on lead prices at futures trade.
At the Multi Commodity exchange, lead for delivery in June weakened by 45 paise, or 0.35%, to Rs 129.05 per kg in business turnover of 377 lots.
Similarly, the metal for delivery in July contract traded lower by similar margin to Rs 130.20 per kg in 33 lots.
Analysts said besides subdued demand from battery-makers in the domestic spot market, a weak trend in copper and other base metals at the London Metal Exchange on signs of slowing demand in China, put pressure on lead prices at futures trade.