Muted demand drags lead futures down by 0.51%

Lead prices were down by 0.51 per cent to Rs 127.10 per kg in futures trade today as traders trimmed their positions following sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, lead for delivery in September traded lower by 65 paise or 0.51 per cent to Rs 127.10 per kg in business turnover of 481 lots.
On similar lines, the metal for delivery in October contracts edged down by 60 paise or 0.47 per cent to Rs 127.75 per kg in 15 lots.
Analysts said the weakness in lead futures was mostly attributed to offloading of positions by participants, driven by tepid demand from battery-makers at the domestic markets.