Weak demand drag down lead futures by 0.74%

Lead prices declined by 0.74 per cent to Rs 166.70 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on easing demand.

At the Multi Commodity Exchange, lead for delivery in March fell by Rs 1.25, or 0.74 per cent, to Rs 166.70 per kg in business turnover of 416 lots.

Similarly, the metal for delivery in February contracts was trading lower by Rs 1.20, or 0.72 per cent to Rs 166.40 per kg in 521 lots.

Analysts said cutting down of positions by traders owing to subdued demand from battery makers in the spot market influenced lead prices in futures trade.