Lead futures down 0.37% on profit booking

Lead futures prices traded 0.37 per cent lower at Rs 107.25 per kg today on profit booking by speculators, even as metal prices surged in overseas markets.

Weak trend in base metals at the spot markets, owing to slackened demand also put pressure on the futures prices.

At the Multi Commodity Exchange counter, lead for delivery in October fell by 45 paise, or 0.37 per cent, to Rs 107.25 per kg, with a business turnover of 10 lots.

The metal for November delivery lost 40 paise, or 0.36 per cent, to Rs 108.15 per kg, with a turnover of of 13 lots.

Analysts said profit booking by speculators and weak demand at the spot markets, mainly led to a fall in lead futures prices, but gains at the London Metal Exchange (LME), capped losses.

Meanwhile, lead up 0.50 per cent to USD 2,462 a metric tonne at the LME.