Lead futures remain weak, hurt by muted demand

Continuing its losing streak for the fifth straight day, lead prices drifted further down by 0.63 per cent to Rs 143 per kg in futures market today as participants engaged in reducing their positions amid low demand from consuming industries at spot market.
At the Multi Commodity Exchange, lead for delivery in December month fell 90 paise, or 0.63 per cent to Rs 143 per kg in business turnover of 139 lots.
Likewise, the metal for delivery in January contracts traded lower by 65 paise, or 0.45 per cent to Rs 143.90 per kg in 1 lot.
Analysts said that cutting down of positions by traders due to sluggish demand from battery-makers at the domestic spot markets, mainly kept lead prices lower at futures trade.