NEW DELHI, May 20: Lead prices weakened by 0.16 per cent to Rs 124.55 per kg in futures trade today as speculators offloaded positions driven by subdued demand in the spot market amid a weak trend in metals at the London Metal Exchange.
At Multi Commodity Exchange, lead for delivery in June shed 20 paise, or 0.16 per cent, to Rs 124.55 per kg in business turnover of 1 lot.
Likewise, the metal for delivery in May contract traded lower by 10 paise, or 0.08 per cent, to Rs 123.50 per kg in 116 lots.
Market analysts said a weak trend in base metal pack at the LME and a weak demand from battery-makers in the spot market mainly led to the decline in lead prices in futures trade.
Globally, the LME index of six metals tumbled 2.4 per cent on Tuesday to 2,818.8, the biggest fall since January 23. The gauge dropped 6.1 per cent from a 20-week high on May 5. (PTI)
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