Lead down 0.2% on muted demand

Lead prices drifted lower by 0.24 per cent to Rs 126.40 per kg in futures trade today as traders trimmed their positions amid sluggish demand from battery-makers in the spot market.

At the Multi Commodity Exchange, lead for delivery in September declined by 30 paise or 0.24 per cent to Rs 126.40 per kg in business turnover of 370 lots.

Likewise, the metal for delivery in October contracts traded lower by a similar margin to Rs 127.05 per kg in 3 lots.

Market analysts said offloading of positions by participants owing to slackened demand from battery-makers in the spot market led to decline in lead prices at futures trade.