Lead futures drop 0.62% on slide in physical demand

Lead futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators trimmed their bets in the industrial metal amid fall in physical demand for lead, from battery-makers, in the domestic spot market.

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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 November 2016 contract is trading at Rs 152.40 per kg, down by 0.62 per cent, after opening at Rs 153.70, against a previous close of Rs 153.35. It touched the intra-day low of Rs 151.35.

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