Lead futures fall 1.17% on weak spot demand

Lead traded lower by Rs 0.90, or 1.17 per cent to Rs 75.90 per kg in futures trade, after traders reduced their positions, triggered by weak demand for the metal at spot markets.

At the Multi Commodity Exchange counter, lead for June contract edged lower by Rs 0.90, or 1.17 per cent, to Rs 75.90 per kg, clocking a turnover of 1,979 lots.

The metal for delivery in July contract also traded lower by Rs 0.85, or 1.15 per cent, at Rs 77.10 per kg, with a turnover of 200 lots.

Analysts said subdued spot demand and a weak trend in entire base metals pack overseas on worries about slowing economic growth in China, led to a fall in lead prices at futures market here.