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Lead weakened by 0.38% to Rs 118.30 per kg in futures trading today as speculators trimmed positions amid a weak trend in global markets and subdued domestic demand.
Analysts said besides a weak trend in base metals at the London Metal Exchange as the International Monetary Fund forecast sustained weakness in global economic growth, subdued demand from battery-makers in the domestic spot market put pressure on lead prices at futures trade.
At the Multi Commodity exchange, lead for delivery in April eased by 45 paise, or 0.38%, to Rs 118.30 per kg in a business turnover of 146 lots.
Also, the metal for delivery in May traded lower by 30 paise, or 0.25%, to Rs 119.10 per kg in just one lot.
