Lead down 0.3% on sluggish demand

Lead extended losses for the second day by losing 0.31% to Rs 126.80 per kg in futures trading today as speculators offloaded their positions on weak trend at spot market and sluggish demand from battery-makers.

At the Multi Commodity Exchange, lead for delivery in May declined by 40 paise, or 0.31%, to Rs 126.80 per kg in business turnover of 983 lots.

Similarly, the metal for delivery in June traded lower by same margin to Rs 128.05 per kg in 15 lots.

Analysts said offloading of positions by speculators due to sluggish demand from battery-makers in the spot market kept pressure on lead prices at futures trade.