Lead down on lower global trend

Tracking a weak trend in global markets, lead futures prices moved down by 0.51% to Rs 106.85 per kg today as speculators reduced their positions.

At the Multi Commodity Exchange, April lead declined by 55 paise, or 0.51%, to Rs 106.85 per kg, with a business turnover of 77 lots.

The March delivery shed 50 paise, or 0.47%, to Rs 105.60 per kg, with a business turnover of 1,424 lots.

Market analysts said speculators reduced their positions amid a weak trend in global markets, which helped lead prices to trade lower at futures trade.

Meanwhile, lead declined 0.2% to $2,116.25 a tonne on the London Metal Exchange.