Lead futures remain weak, shed 0.55% on low demand

Lead prices drifted further lower by 0.55 per cent to Rs 153.50 per kg in futures market today as speculators engaged in reducing their positions on the back of tepid demand in the spot market.
At the Multi Commodity Exchange, lead for delivery in March declined by 85 paise, or 0.55 per cent, to Rs 153.50 per kg, in a business turnover of 445 lots.
On similar lines, the metal for delivery in April traded lower by 80 paise, or 0.52 per cent, to Rs 153.80 per kg in 10 lots.
Market analysts said offloading of positions by participants due to sluggish demand from battery-makers in the domestic spot market, mainly kept lead prices down at futures trade.