Lead futures down on thin trade

Lead futures prices today fell by 0.77 per cent, after speculators reduced their positions tracking a weak trend in base metals on the London Metal Exchange.

Subdued demand from battery makers, at the spot market, also put pressure on the lead futures prices.

At the Multi Commodity Exchange, lead for delivery in February fell by 90 paise, or 0.77 per cent, to Rs 115.95 per kg, with a business turnover of 17 lots.

Similarly, the metal for delivery in March traded 85 paise, or 0.73 per cent, lower to Rs 116 per kg, with a turnover of 14 lots.  

Market analysts said weak trend in the entire base metals, at the London Metal Exchange, on fears that the demand may fall after China raised borrowing costs for the third-time in four months led to the fall in lead futures prices. 

Meanwhile, lead traded 0.7 per cent down at $2,550 a tonne.