Lead futures down on subdued demand, global cues

Dec 11 2012, 13:49 IST
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SummaryLead futures fell by 0.36 per cent to Rs 124.25 per kg.

Lead futures fell by 0.36 per cent to Rs 124.25 per kg today after speculators trimmed their positions to book profits amid a weak trend in base metals at the London Metal Exchange.

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

At the Multi Commodity Exchange, lead for delivery in January fell by 55 paise, or 0.36 per cent, to Rs 124.25 per kg, with a business turnover of 505 lots.

The metal for delivery in December shed 70 paise, or 0.24 per cent to Rs 124 per kg in a turnover of 3,438 lots.

The fall in lead prices at futures trade was mostly in line with a weakening trend in the entire base metals pack at the London Metal Exchange after less-than-expected growth in China's exports in November.

Besides, subdued domestic demand also put pressure on metal prices, they said.

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