Lead softens on sluggish demand, global cues

The metal was down nearly 1% on LME

Amid weak trend overseas and sluggish domestic demand, lead prices traded lower by 0.36% to Rs 111.10 per kg in futures trading today.

At the MCX, lead for delivery in May shed 40 paise, or 0.36%, to Rs 111.10 per kg in business turnover of 2,581 lots.

The June contract traded lower by the same margin to Rs 111.55 per kg in 234 lots.

Analysts said apart from subdued demand from battery-makers in the spot market, a weak trend in overseas market helped prices to trade lower at futures trade.

Meanwhile, lead fell 0.7% to $2,075 a tonne on the London Metal Exchange.