Lead futures shed 0.29% on muted spot demand

Lead prices were down 0.29 per cent to Rs 135.50 per kg in futures trading today as participants reduced their exposure, triggered by subdued demand from consuming industries in the spot market and weak global cues.
At the Multi Commodity Exchange, lead for delivery in November month declined by 40 paise, or 0.29 per cent to Rs 135.50 per kg in business turnover of 24 lots.
Likewise, the metal for delivery in current month contracts shed 25 paise, or 0.19 per cent to Rs 134.85 per kg in 483 lots.
Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets, apart from weak global cues after China's exports unexpectedly declined, raising global demand outlook.