Lead down by 0.4% on muted spot demand

Lead prices were down by 0.44% to Rs 123.15 per kg in futures market today as participants cut down their bets amid sluggish demand in the spot market.

At the Multi Commodity Exchange, lead for delivery in February declined by 55 paise, or 0.44% to Rs 123.15 per kg in a business turnover of 1,901 lots.

Similarly, the metal for delivery in March weakened by 40 paise, or 0.32% to Rs 123.70 per kg in 40 lots.

Market analysts said trimming of positions by traders due to sluggish demand from consuming industries, particularly from battery makers, mainly led to the decline in lead prices at futures trade.