Lead falls on profit-booking, sluggish demand

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Lead falls on profit-booking, sluggish demand
Press Trust of India / New Delhi Feb 13, 2012, 15:15

Comments

Lead futures fell by 0.28% to Rs 107.25 per kg today, as speculators locked-in gains at prevailing levels amid subdued demand from battery makers at the domestic spot market.

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However, a firming trend in base metals at the London Metal Exchange (LME), capped the losses.

At the Multi Commodity Exchange, the March contract for lead shed 30 paise, or 0.28%, to Rs 107.25 per kg in a business turnover of 47 lots.

The February contract fell by 25 paise, or 0.24%, to Rs 106.05 per kg in 529 lots.

Analysts said apart from profit-booking by speculators, a weakening trend in the spot market due to subdued demand from battery-makers also kept pressure on lead futures prices. But firmness in base metals at the LME restricted losses.

At the LME, lead climbed 0.9% to $2,155.75 per tonne in early trade today.