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Lead futures remain weak on sluggish demand

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Press Trust of India New Delhi

Lead prices declined and lost paise 35 to Rs 100.85 per kg in futures trade today, as speculators continued to book profits on sluggish demand in the spot market.

Weakening trend in global markets also influenced the lead prices.

At the Multi Commodity Exchange counter, lead for September lost Rs 0.35, or 0.35 per cent, to Rs 100.85 per kg, with an open interest of 3,938 lots.

Similarly, the metal for delivery in October traded lower by Rs 0.35, or 0.34 per cent, to Rs 101.80 per kg, with an open interest of 295 lots.
    
Marketmen said apart from profit-booking by speculators at existing higher levels, fall in demand in the spot markets and weakening trend in global markets mainly led to a fall in lead prices at futures trade.
    
Meanwhile, lead fell 0.3 per cent to $2,178.50 a metric tonne on the London Metal Exchange.

 

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First Published: Sep 08 2010 | 5:55 PM IST

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