Lead down 1% on sluggish demand

November contract falls 0.96%

Lead prices moved down by Rs 1.20 to Rs 118.70 per kg in futures trade today as speculators reduced their positions, tracking a weak trend at the spot market on sluggish demand.

At Multi Commodity Exchange, lead for delivery in October moved down by Rs 1.20, or 1%, to Rs 118.70 per kg in a business turnover of 5,412 lots.

November lead shed Rs 1.15, or 0.96%, to Rs 118.80 per kg in 387 lots.

Market experts said weak trend at spot market on back of sluggish demand led to the decline in lead futures.