Lead down on subdued demand, global cues
Speculators booked profits amid subdued domestic demand and weakness in base metals at the London Metal Exchange
Lead futures fell further by 0.32% to Rs 126.05 per kg today after speculators booked profits amid subdued domestic demand and weakness in base metals at the London Metal Exchange.
At the Multi Commodity Exchange, the December contract fell by 40 paise, or 0.32%, to Rs 126.05 per kg, with a business turnover of 2,259 lots.
The January contract also fell by similar margin to Rs 126.35 in a business turnover of 354 lots.
The fall in lead prices at futures trade was mostly in line with a weakening trend in the entire base metals pack at the London Metal Exchange after copper's inventories soared to a nine-month high.
Besides, subdued domestic demand also put pressure on metal prices, they said.