Muted demand drags down lead futures by 0.53 pc

Lead prices were down by 0.53 per cent to Rs 113.65 per kg in futures trading today as participants cut down their positions, driven by tepid demand in the spot market.

At the Multi Commodity Exchange, lead for delivery in June shed 60 paise, or 0.53 per cent to Rs 113.65 per kg in a business turnover of 5,930 lots.

Likewise, the metal for delivery in far-month July weakened by Rs 60, or 0.52 per cent to Rs 114.50 per kg in 185 lots.

Analysts said offloading of positions by traders due to sluggish demand from battery-makers at the domestic markets led to decline in the lead prices at futures trade.