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Lead prices weakened by 0.16% to Rs 124.55 per kg in futures trade today as speculators offloaded positions driven by subdued demand in the spot market amid a weak trend in metals at the London Metal Exchange.
At Multi Commodity Exchange, lead for delivery in June shed 20 paise, or 0.16%, to Rs 124.55 per kg in business turnover of 1 lot.
Likewise, the metal for delivery in May contract traded lower by 10 paise, or 0.08%, to Rs 123.50 per kg in 116 lots.
Market analysts said a weak trend in base metal pack at the LME and a weak demand from battery-makers in the spot market mainly led to the decline in lead prices in futures trade.
Globally, the LME index of six metals tumbled 2.4% on Tuesday to 2,818.8, the biggest fall since January 23. The gauge dropped 6.1% from a 20-week high on May 5.
