Muted demand drags down lead futures by 0.56%

Lead prices were down by 0.56 per cent at Rs 151.65 per kg in futures trade today as traders trimmed positions following sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, lead for delivery in September traded lower by 85 paise or 0.56 per cent to Rs 151.65 per kg in business turnover of 313 lots.
On similar lines, the metal for delivery in October contracts edged down by 55 paise or 0.362 per cent to Rs 152.80 per kg in 14 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.