Lead softens in futures trade, down over 1%

Taking weak cues from global market, lead prices fell by 1.04% to Rs 114.20 per kg in futures trading today as speculators engaged in reducing their positions.

At the Multi Commodity Exchange, lead for delivery in July declined by Rs 1.20, or 1.04% to Rs 114.20 per kg, with a business turnover of three lots.

Similarly, the metal for delivery in May shed 85 paise, or 0.74% to Rs 113.25 per kg, with a business volume of 796 lots.  

Analysts said a weak trend in copper and other base metals overseas along with subdued trend at the domestic spot markets led to the fall in lead futures prices here.