Lead futures for January weakened by 20 paise, or 0.16%, to Rs 123.70 per kg in 4,529 lots.
At the Multi Commodity Exchange, the February contract traded lower by the same margin to Rs 124.05 per kg in 656 lots.
Trimmed positions by speculators, weak global trend affected the trade.
On London Metal Exchange, lead dropped 0.2% to $2,296 a tonne.