Lead futures drop 0.58% on diminishing demand

Lead futures were trading lower during morning trade in the domestic market on Friday as investors and speculators cut down their positions in the industrial metal amid subdued physical demand for lead, from battery-makers, in the domestic spot market. Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. 

At the MCX, lead futures for March 2017 contract is trading at Rs 153.45 per kg, down by 0.58 %, after opening at Rs 153.30, against a previous close of Rs 154.35. It touched the intra-day low of Rs 153.20.

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