Lead futures remain weak on sluggish demand

Continuing its losing streak for the third straight day, lead prices drifted further lower by 0.37 per cent to Rs 147.75 per kg in futures trading today as participants engaged in trimming their positions, driven by easing demand in the spot market.
At the Multi Commodity Exchange, lead for delivery in December month declined by 55 paise, or 0.37 per cent to Rs 147.75 per kg in business turnover of 181 lots.
Likewise, the metal for delivery in January contracts traded lower by 45 paise, or 0.30 per cent to Rs 148.55 per kg in 1 lot.
Analysts said offloading of positions by traders following tepid demand from battery-makers at the domestic markets, mainly kept lead prices down at futures trade.