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Lead futures weaken by 2.33% on weak global cues

Press Trust of India  |  New Delhi 

Lead prices moved down by 2.33 per cent to Rs 155.30 per kg in futures trade today as speculators cut down their positions, taking negative cues from overseas markets.

At the Multi Commodity Exchange, lead for delivery in July fell by Rs 3.70, or 2.33 per cent, to Rs 155.30 per kg in business turnover of 1,467 lots.

Similarly, the for delivery in August contracts 3.55, or 2.23 per cent, to Rs 156 per kg in 76 lots.

Analysts said offloading of positions by traders owing to weak trend in base metals in global markets, led to the decline in lead prices at futures trade.

Meanwhile, lead for delivery in three months was down 2.1 per cent on the London Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 11:50 IST