Lead down 1.71% in Muhurat trading on global cues

Metal sheds 3.2% to $1,582 a tonne, the lowest since June 2010, on the London Metal Exchange

Tracking a weak trend overseas, lead prices drifted lower by 1.71 per cent to Rs 106.35 per kg in special Muhurat trading session today.

The Multi Commodity Exchange (MCX) remained closed for morning session on account of 'Diwali'.

At the MCX, lead for delivery in November month declined by Rs 1.85, or 1.71 per cent to Rs 106.35 per kg in business turnover of turnover of 528 lots.

The December contract traded lower by Rs 1.85, or 1.69 per cent, to Rs 107.40 per kg in 19 lots.

Market analysts attributed the fall in lead futures to a weak global trend in base metals after Chinese industrial output matched the slowest growth since the global financial crisis.
 
Meanwhile, lead dropped 3.2 per cent to $1,582 a tonne, the lowest since June 2010, on the London Metal Exchange.