Muted spot demand drags down lead futures by 0.52%

Lead prices were down by 0.52 per cent to Rs 162.40 per kg in futures market today as participants cut down their bets amid sluggish demand in the spot market.

At the Multi Commodity Exchange, lead for delivery in current month declined by 85 paise, or 0.52 per cent to Rs 162.40 per kg in a business turnover of 398 lots.

The metal for delivery in February too fell by a similar margin to trade at RS 162.15 per kg in 32 lots.

Market analysts said trimming of positions by traders due to sluggish demand from consuming industries, particularly from battery makers, mainly led to the decline in lead prices at futures trade.