Lead futures decline on lower global trend

Lead prices declined by Rs 1.45, or 1.48 per cent, to Rs 96.60 per kg in futures trade today, as speculators reduced their holdings on the back of weakening global trend.

At the Multi Commodity Exchange platform, lead for September-month declined by Rs 1.45, or 1.48 per cent, to Rs 96.60 per kg, with an open interest of 2,261 lots.

Similarly, the metal for delivery in October lost Rs 1.15, or 1.16 per cent, to Rs 97.70 per kg, with an open interest of 139 lots.

Market analysts said fresh off-loading by speculators amid weakening global trend mainly led to a fall in lead prices at futures trade.

 

Meanwhile, lead declined 1.6 per cent at $2,057 a metric tone on the London Metal Exchange.