Lead down by 1.3% on subdued spot demand
Speculators indulged in reducing their exposures on weakness in base metals overseas
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Lead prices eased by 1.35% to Rs 113.50 per kg in futures trade today as speculators indulged in reducing their exposures on weakness in base metals overseas and subdued domestic spot demand.
At the Multi Commodity Exchange, lead for delivery in January fell by Rs 1.55, or 1.35%, to Rs 113.50 per kg in a business turnover of 283 lots.
Likewise, the metal for delivery in February shed Rs 1.40, or 1.20%, to Rs 114.85 per kg in 16 lots.
Marketmen said the fall in lead futures was due to a subdued demand in domestic markets and a weakening trend in copper and other base metals at the London Metal Exchange after data showed manufacturing contracted in China, the biggest consumer of metals.
At the Multi Commodity Exchange, lead for delivery in January fell by Rs 1.55, or 1.35%, to Rs 113.50 per kg in a business turnover of 283 lots.
Likewise, the metal for delivery in February shed Rs 1.40, or 1.20%, to Rs 114.85 per kg in 16 lots.
Marketmen said the fall in lead futures was due to a subdued demand in domestic markets and a weakening trend in copper and other base metals at the London Metal Exchange after data showed manufacturing contracted in China, the biggest consumer of metals.
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First Published: Jan 23 2015 | 10:55 AM IST