Lead down on weak overseas cues
Lead futures prices today traded lower by 0.43% to Rs 105.40 per kg owing to subdued demand in the spot market.
At the MCX, Lead for delivery in June shed 45 paise, or 0.43%, to Rs 105.40 per kg in business turnover of 734 lots.
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The july contract traded lower by 45 paise, or 0.42%, to Rs 106.25 per kg in 30 lots.
Globally, lead traded 0.3% lower at $1,912 per tonne.
Market analysts said weakness in base metals at the London Metal Exchange (LME) after US Federal Reserve Chairman said the central bank will need to assess conditions before deciding if more measures are needed to stoke an economy threatened by Europe’s debt crisis, mainly put pressure on lead prices at futures trade.