Lead weakens on sluggish demand

Lead prices weakened by 0.28% to Rs 106.55 per kg in futures trading today on sluggish spot market demand amid a lower trend in overseas markets.

At the Multi Commodity Exchange, the May delivery traded lower by 30 paise, or 0.28%, to Rs 106.55 per kg, with a business turnover of 123 lots.

The April contract fell by Rs 20 paise, or 0.19%, to Rs 105.45 per kg, with a business turnover of 3,253 lots.

Market analysts said sluggish demand in the spot market amid lower trend in global markets mainly influenced lead futures prices.

Meanwhile, lead declined 1% to $2,039.50 a tonne on the London Metal Exchange.