Lead futures extend losses, shed 0.58% on tepid demand

Lead remained weak for the second straight day and prices eased further by 0.58 per cent to Rs 146.40 per kg in futures market today as traders engaged in reducing their positions amid sluggish demand in the spot market.
At the Multi Commodity Exchange, lead for delivery in January fell by 85 paise, or 0.58 per cent, to Rs 146.40 per kg, in a business turnover of 10 lots.
On similar lines, the metal for delivery in December traded lower by 80 paise, or 0.55 per cent, to Rs 145.70 per kg in 289 lots.
Analysts said trimming of positions by participants on the back of subdued demand from battery-makers at the domestic markets, mainly kept lead prices lower at futures trade.