Lead fell by 0.2% on weak global cues
Speculators reduced positions amid weak global cues and subdued domestic demand
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Lead prices fell by 0.20% to Rs 114 per kg in futures market today as speculators reduced positions amid weak global cues and subdued domestic demand.
At the Multi Commodity Exchange, lead for delivery in March declined by 25 paise, or 0.20%, to Rs 114 per kg in a business turnover of 305 lots.
Likewise, the metal for delivery in April shed 20 paise, or 0.17%, to Rs 114.60 per kg in 289 lots.
Analysts attributed the weakness in lead futures to offloading of positions by speculators after the metal weakened in overseas markets on a weakening demand outlook in China, the biggest consumer of metals.
Besides, subdued demand from battery-makers in domestic markets put pressure on metal prices, they said.
At the Multi Commodity Exchange, lead for delivery in March declined by 25 paise, or 0.20%, to Rs 114 per kg in a business turnover of 305 lots.
Likewise, the metal for delivery in April shed 20 paise, or 0.17%, to Rs 114.60 per kg in 289 lots.
Analysts attributed the weakness in lead futures to offloading of positions by speculators after the metal weakened in overseas markets on a weakening demand outlook in China, the biggest consumer of metals.
Besides, subdued demand from battery-makers in domestic markets put pressure on metal prices, they said.
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First Published: Mar 31 2015 | 12:22 PM IST