Lead futures soften by 1.16% on sluggish demand

Lead prices eased by 1.16 per cent in futures market Thursday as speculators cut positions amid subdued demand at the spot markets.

At the Multi Commodity Exchange, lead for delivery in current month shed Rs 1.65, or 1.16 per cent, to Rs 140.65 per kg in a business turnover of 378 lots.

Analysts attributed weakness in lead prices at futures to cutting down of bets by participants due to tepid demand from battery makers at the spot market.