Lead down by 0.6% on weak global cues
Speculators trimmed positions on weakness in base metals overseas and subdued domestic spot demand
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Lead prices eased by 0.57% to Rs 113.90 per kg in futures trade today as speculators trimmed positions on weakness in base metals overseas and subdued domestic spot demand.
At the Multi Commodity Exchange, lead for delivery in January fell by 65 paise, or 0.57%, to Rs 113.90 per kg in a business turnover of 357 lots.
Likewise, the metal for delivery in February shed 55 paise, or 0.48%, to Rs 115.20 per kg in 65 lots.
Marketmen said the fall in lead futures was largely in tandem with a weakening trend in base metals pack at the London Metal Exchange.
This was after oil fell to the lowest in almost six years and the rise in US dollar, dampening demand for commodities priced in the greenback.
Besides, subdued demand in domestic markets weighed on metal prices in futures trade here.
At the Multi Commodity Exchange, lead for delivery in January fell by 65 paise, or 0.57%, to Rs 113.90 per kg in a business turnover of 357 lots.
Likewise, the metal for delivery in February shed 55 paise, or 0.48%, to Rs 115.20 per kg in 65 lots.
Marketmen said the fall in lead futures was largely in tandem with a weakening trend in base metals pack at the London Metal Exchange.
This was after oil fell to the lowest in almost six years and the rise in US dollar, dampening demand for commodities priced in the greenback.
Besides, subdued demand in domestic markets weighed on metal prices in futures trade here.
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First Published: Jan 29 2015 | 11:40 AM IST