Lead futures soften on sluggish demand

March and April contracts shed 0.85% each, downside limited by firming base metal trends in Londonon

Lead prices edged lower by 0.85 per cent to Rs 123.20 per kg in futures trade today, after speculators reduced their exposures amid a weak demand in the spot markets.

However, gains in the base metals at the London Metal Exchange, restricted the downside.
    
At the Multi Commodity exchange, lead for delivery in March shed Rs 1.05, or 0.85 per cent to Rs 123.20 per kg in business turnover of 1,521 lots.     

April lead declined by Re 1, or 0.84 per cent to Rs 123.65 per kg in a turnover of 122 lots.     

Market analysts a weak trend in the spot markets due to reduced demand from battery-makers, mainly put pressure on the lead prices at futures trade but reports of a firming trend in copper and other base metals at the London Metal Exchange, capped the loss.