Lead slips in futures trade as demand stays soft

Lead fell 0.40 per cent to Rs 124.55 per kg in futures trade today as speculators reduced positions even as metal strengthened overseas.

At the Multi Commodity exchange, lead for delivery in August contracts was trading 50 paise, or 0.40 per cent, down at Rs 124.55 per kg in a business turnover of 83 lots.

Metal prices for delivery in July also fell by 45 paise, or 0.36 per cent, to Rs 123.45 per kg in 558 lots.

Market analysts said apart from slackened demand from battery-makers in the domestic spot market, weakness in metal at the London Metal Exchange, led to the fall in lead futures prices here.