Lead futures soften by 0.24% on weak spot cues

Lead prices drifted lower by 0.24 per cent to Rs 147.30 per kg in futures trade Monday as speculators trimmed their positions, taking negative cues from spot market on subdued demand.

At the Multi Commodity Exchange, lead for delivery in October declined by 35 paise, or 0.24 per cent, to Rs 147.30 per kg in business turnover of 5 lots.

Similarly, the metal for delivery in September contracts shed 15 paise, or 0.10 per cent, to Rs 146.35 per kg in 360 lots.

Marketmen said offloading of positions by traders owing to slackened demand from battery makers in the physical market, mainly influenced lead prices at futures trade.