Lead futures soften on tepid demand

Lead prices on Wednesday drifted 1.1 per cent lower to Rs 153.35 per kg in futures market as speculators cut bets on low demand.

On the Multi Commodity Exchange, lead for delivery in November fell by Rs 1.70, or 1.1 per cent, to Rs 153.35 per kg in 18 lots.

Likewise, the metal for delivery in December shed Re 1, or 0.65 per cent, to Rs 154.70 per kg in 850 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in physical market mainly influenced lead prices in futures trade.