Weak overseas cues, low demand hurt lead futures; fall 0.35%

Amid weak global cues and muted domestic demand, lead prices traded lower by 0.35 per cent to Rs 114.90 per kg in futures market today as participants cut down their bets.
At the Multi Commodity Exchange, lead for delivery in far-month May declined by 40 paise, or 0.35 per cent, to Rs 114.90 per kg, in a business turnover of 18 lots.
Similarly, the metal for delivery in April shed 25 paise, or 0.22 per cent, to Rs 114.40 per kg in 1,120 lots.
Market analysts said the weakness in lead futures was due to a weak trend overseas, as most industrial metals fell.

Besides, subdued demand at the domestic spot markets from battery-makers too weighed on metal futures, they said.