Muted demand drags down lead futures by 0.29%

Lead prices were down by 0.29 per cent at Rs 139.40 per kg in futures trade today as traders trimmed their positions following sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, lead for delivery in December traded lower by 40 paise or 0.29 per cent to Rs 139.40 per kg in business turnover of one lot.
On similar lines, the metal for delivery in November contracts edged down by 30 paise or 0.22 per cent to Rs 138.90 per kg in 198 lots.
Analysts attributed the weakness in lead futures to offloading of positions by participants, driven by tepid demand from battery-makers at the domestic markets.