Muted demand drags down lead futures 1.02 pc

Lead prices were trading down by 1.02 per cent at Rs 164.20 per kg in futures trade today as traders trimmed positions following sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, lead for delivery in October traded lower by Rs 1.70, or 1.02 per cent, to Rs 164.20 per kg in a business turnover of 349 lots.
On similar lines, the metal for delivery in November edged down by Rs 1.65, or 0.99 per cent, to Rs 165 per kg in four lots.
Analysts attributed the weakness in lead futures to offloading of positions by participants, driven by tepid demand from battery-makers at the domestic markets.