Muted demand drags down lead futures by 0.67%

NEW DELHI, June 18: Lead prices drifted lower by 0.67 per cent to Rs 162.70 per kg in futures market today as speculators reduced their exposure amid sluggish demand at spot markets.

At the Multi Commodity Exchange, lead for delivery in June declined by Rs 1.10, or 0.67 per cent to Rs 162.70 per kg in a business turnover of 645 lots.

In a similar fashion, the metal for delivery in July contracts was trading lower by Re 1, or 0.61 per cent to Rs 163.75 per kg in 23 lots.

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

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