Lead sheds 1% on sluggish demand

Lead prices traded lower by Rs 1.20 to Rs 108.10 per kg in futures trade today, as speculators offloaded their positions following sluggish demand in the spot market and weak trends overseas.

At the Multi Commodity Exchange, lead for delivery in April lost Rs 1.20, or 1.10% to Rs 108.10 per kg in just two trading lots.

The February contract shed 35 paise, or 0.33%, to Rs 106.20 per kg in 5,078 lots.

Market analysts said lead traded lower largely due to subdued demand from battery makers in the spot market.