Lead futures remain weak, shed 0.37% on muted demand

Lead prices declined by 0.37 per cent to Rs 134.75 per kg in futures trading today as participants indulged in reducing their positions, driven by easing demand at spot market and a weak trend overseas.
At the Multi Commodity Exchange, lead for delivery in June traded lower by 50 paise, or 0.37 per cent, to Rs 134.75 per kg, in a business turnover of six lots.
Similarly, the metal for delivery in May weakened by 40 paise, or 0.30 per cent, to Rs 133.55 per kg in 437 lots.
Analysts said trimming of positions by speculators on the back of subdued demand from consuming industries in the spot market amid a weak trend in industrial metals at the London Metal Exchange (LME) after Moody's Investors Service downgraded China's credit rating and warned that the country's debt position will worsen as its economic expansion slows, mainly kept lead prices lower at futures trade.