Lead futures soften on sluggish demand

Lead softened by 0.24% to Rs 102.45 per kg in futures trading today as speculators reduced their positions, tracking a weak trend at spot market on sluggish demand from battery-makers.

At the Multi Commodity Exchange, the March contract for lead weakened by 25 paise, or 0.24%, to Rs 102.45 per kg in business turnover of 2,702 lots.

The April contract traded lower by the same margin to Rs 103.85 per kg in 434 lots.

Market analysts said weak trend at spot market due to sluggish demand from battery-makers led to decline at futures market.