Lead futures soften by 0.61% on tepid demand

Lead prices fell by 0.61 per cent to Rs 138.90 per kg in futures trade today as speculators trimmed their positions, tracking a weak trend at spot market on low demand from consuming industries in the spot market.

At the Multi Commodity Exchange, lead for delivery in November shed 85 paise, or 0.61 per cent, to Rs 138.90 per kg, in a business turnover of 6,867 lots.

Likewise, the metal for delivery in December weakened by 65 paise, or 0.46 per cent, to Rs 139.70 per kg in 154 lots.

Analysts said offloading of positions by participants, driven by subdued demand from battery-makers at the domestic markets, led to decline in lead prices at futures trade.