Lead weakens by 0.23% on subdued demand

Traders pare exposure on lower offtake from battery makers

Lead prices drifted by 0.23 per cent to Rs 131.30 per kg in futures trade today after participants reduced their exposures, tracking a weak trend at spot markets on subdued demand from battery makers.

At the Multi Commodity exchange, lead for delivery in June traded lower by 40 paise, or 0.23 per cent to Rs 131.30 per kg in business turnover of 217 lots.

The July contract shed 35 paise, or 0.19 per cent to Rs 130.20 per kg in 69 lots.

Market analysts attributed the decline in lead futures to subdued demand from battery-makers in the domestic spot market.