NEW DELHI, Aug 5: Lead prices shed 0.50 per cent to Rs 138.05 per kg in futures trading today as speculators trimmed positions amidst a weak global trend and sluggish demand from battery-makers in the spot market.
At the Multi Commodity exchange, lead for delivery in August eased by 70 paise, or 0.50 per cent, to Rs 138.05 per kg in a business turnover of 185 lots.
The metal for delivery in September fell by a similar margin to trade at Rs 138.70 per kg in just one lot.
Analysts said besides subdued demand from battery-makers in the spot market, a weak trend in the metal at the London Metal Exchange (LME) as investors viewed yesterday’s rally as excessive amid increasing stockpiles, weighed on lead futures here.
Meanwhile, LME stockpiles reached 2,15,650 tonnes yesterday, the highest since December 23, daily bourse data show.
At the LME, lead for delivery in three months retreated 0.8 per cent to USD 2,260 per tonne. PTI SUN KPSLead futures shed 0.50% on global cues, sluggish demand
New Delhi, Aug 5 (PTI) Lead prices shed 0.50 per cent to Rs 138.05 per kg in futures trading today as speculators trimmed positions amidst a weak global trend and sluggish demand from battery-makers in the spot market.
At the Multi Commodity exchange, lead for delivery in August eased by 70 paise, or 0.50 per cent, to Rs 138.05 per kg in a business turnover of 185 lots.
The metal for delivery in September fell by a similar margin to trade at Rs 138.70 per kg in just one lot.
Analysts said besides subdued demand from battery-makers in the spot market, a weak trend in the metal at the London Metal Exchange (LME) as investors viewed yesterday’s rally as excessive amid increasing stockpiles, weighed on lead futures here.
Meanwhile, LME stockpiles reached 2,15,650 tonnes yesterday, the highest since December 23, daily bourse data show.
At the LME, lead for delivery in three months retreated 0.8 per cent to USD 2,260 per tonne. (PTI)
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