Lead futures down on subdued spot demand, overseas trend

NEW DELHI, Feb 3: Tracking weakness in base metals overseas and subdued spot demand, lead prices eased by 0.41 per cent to Rs 133.45 per kg in futures trade as speculators reduced their positions.
At the Multi Commodity Exchange, lead for delivery in March fell 55 paise, or 0.41 per cent, to Rs 133.45 per kg in business turnover of nine lots.
Likewise, the metal for delivery in February shed 50 paise, or 0.38 per cent, to Rs 132.55 per kg in 109 lots.
Marketmen said the fall in lead futures prices was attributed to a subdued demand at domestic markets amid a weakening trend at the London Metal Exchange on slowing manufacturing in China, the world’s largest user of base metals. (AGENCIES)