Lead futures soften 0.64% on weak spot demand, global cues

NEW DELHI: Lead prices traded lower by 0.64 per cent to Rs 109.20 per kg in futures trade today as participants reduced positions, driven by easing demand at spot market.

At the Multi Commodity Exchange, lead for delivery in September fell 70 paise, or 0.64 per cent to Rs 109.20 per kg in business turnover of 27 lots.

Similarly, the metal for delivery in August shed 55 paise, or 0.51 per cent to Rs 108.35 per kg in 1,943 lots.

Market analysts said offloading of positions by speculators owing to sluggish demand from battery-makers in spot markets and a weak global trend mainly influenced lead prices at futures trade.