Lead futures fall on weak global cues
Lead prices fell by Rs 2.20 to Rs 111.55 per kg in futures trading today as speculators reduced their positions, driven by a weakening global trend.
At the Multi Commodity Exchange, lead for delivery in June declined by Rs 2.20, or 1.93% to Rs 111.55 per kg, with a business turnover of three lots.
Similarly, the metal for delivery in May lost Rs 2, or 1.77% to Rs 110.80 per kg, with a business volume of eight lots.
Market analysts said speculators reduced their positions amid a weakening global trend, which led to the fall in lead futures prices.
Reduced offtake by battery makers also influenced lead prices, they added.