Lead falls by 0.2% on weak demand

Speculators reduced positions largely in tune with a weak trend and low demand

Lead prices softened by 0.20% to Rs 126.35 per kg in futures trading today as speculators reduced positions largely in tune with a weak trend due to low demand from battery-makers in the spot market.

Besides, metal's weakness at the London Metal Exchange (LME) put pressure on lead futures.

At the Multi Commodity Exchange, lead for delivery in this month eased by 25 paise, or 0.20%, to Rs 125.40 per kg in a business turnover of 219 lots.

Likewise, the metal for delivery in December traded lower by 20 paise, or 0.16%, to Rs 126.35 per kg in four lots.
 
Analysts said speculators trimmed positions, tracking a subdued trend at the spot markets on sluggish demand from battery-makers and metal's weakness at the LME, mainly influenced lead prices at futures trade.