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Lead down 0.2% on global cues, subdued demand

Analysts said a weak trend in base metals at the LME as China's GDP grew by less than expected mainly put pressure on the lead futures trade

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Press Trust of India New Delhi

Amid a weak trend at the London Metal Exchange on demand concerns, lead futures fell by 0.23% to Rs 107.25 per kg today.

Subdued demand from battery-makers at the domestic spot markets also kept some pressure on the lead futures prices here.

At the Multi Commodity Exchange, the April contract fell 25 paise, or 0.23%, to Rs 107.25 per kg, with a business turnover of 1,714 lots.

The May contract also shed 15 paise, or 0.14%, to Rs 108.30 per kg, with business volume of 137 lots.

Analysts said a weak trend in copper and other base metals at the London Metal Exchange (LME) as China's gross domestic product grew by less than expected, raising concerns about demand from the largest consumer, mainly put pressure on the lead futures trade here.

 

At the LME, lead was down as much as 1.3% to $2,072.50 per tonne.

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First Published: Apr 13 2012 | 1:38 PM IST

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