Lead futures decline on global cues

Prices dragged by over 1% fall on LME

Taking weak cues from global markets, lead prices traded lower by 0.77% to Rs 110.20 per kg in futures trade today as speculators offloaded their positions.

At the MCX, lead for delivery in May declined by 85 paise, or 0.77%, to Rs 110.20 per kg, with a business turnover of 6,986 lots.

The June contract traded lower by 85 paise, or 0.76%, to Rs 110.65 per kg, in 368 lots.

Market analysts said speculators offloaded their positions in tandem with a weak trend in overseas markets, which kept pressure on lead prices at futures trade.

Meanwhile, lead lost 1.1% to $2,076 a tonne on the London Metal Exchange.