Lead futures shed 1.69% on muted spot demand

Lead prices were down 1.69 per cent to Rs 157.45 per kg in futures trading today as participants reduced exposure, triggered by subdued demand from consuming industries in the spot market and weak global cues.
At the Multi Commodity Exchange, lead for delivery in September declined by Rs 2.70, or 1.69 per cent to Rs 157.45 per kg in business turnover of 5,068 lots.
Likewise, the metal for delivery in October shed Rs 2.65, or 1.65 per cent to Rs 157.55 per kg in 388 lots.
Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets, apart from weak global cues where copper and other base metals weakened.