Lead futures marginally down on reduced offtake

Lead prices fell by 0.23% in futures trade today on a weakening trend in spot markets due to reduced offtake by battery makers.

At the Multi Commodity Exchange, lead for delivery in May moved down by 25 paise, or 0.23% to Rs 110.35 per kg, in business turnover of 8,762 lots.

Likewise, the metal for delivery in June traded lower by the same margin to Rs 110.70 per kg in 302 lots.

Market analysts said reduced offtake by battery makers in physical markets mainly led to decline in lead futures prices.