Lead futures decline on reduced offtake

Lead prices traded lower by Rs 1.20 to Rs 115.85 per kg in futures trade today due to reduced offtake by battery makers.

At the Multi Commodity Exchange, lead for delivery in April declined by Rs 1.20, or 1.03% to Rs 115.85 per kg, with a business turnover of three lots.

Similarly, the metal for delivery in May shed Rs 1.05, or 0.90% to Rs 116.15 per kg, with an open interest of two lots.

Market analysts attributed the fall in lead futures to reduced offtake by battery makers.