Muted demand drags down lead futures by 0.66%

Lead prices drifted lower by 0.66 per cent to Rs 158.65 per kg in futures trade today after participants reduced exposure amid a weak trend at the spot market due to sluggish demand.

At the Multi Commodity Exchange, lead for delivery in January declined by Rs 1.05, or 0.66 per cent, to Rs 158.65 per kg in a business turnover of 745 lots.

Also, the metal for delivery in February moved down by 95 paise, or 0.59 per cent, to Rs 158.80 per kg in 12 lots.

Analysts said the fall in lead prices in futures trade was because of lower bets by participants on the back of subdued demand from battery-makers in the spot market.