Muted demand drags down lead futures by 0.61 percent

Lead prices shed 0.61 percent to Rs 146.40 per kg in futures market Tuesday as speculators reduced their exposure amid tepid demand at the spot markets.

At the Multi Commodity Exchange, lead for delivery in September weakened by 90 paise, or 0.61 percent, to Rs 146.40 per kg in a business turnover of 365 lots.

Similarly, the metal for delivery in October contracts was trading lower by 80 paise, or 0.54 percent, at Rs 147.45 per kg in 14 lots.

Analysts said offloading of positions by traders due to slump in demand from battery-makers in the physical market weighed on lead prices in futures trade.