Rising inventories drags down Lead futures
18/12/2014 15:29
Lead prices fell by 1.68 per cent on Thursday at the domestic markets due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 975 metric tonnes to 220800 metric tonnes as on December 18, 2014. At the MCX, Lead futures, for the December 2014 contract, is trading at Rs 116.95 per kg, down by 1.68 per cent, after opening at Rs 119.25, against a previous close of Rs 118.95. It touched an intra-day low of Rs 115.85 till the trading. (At 3.25 PM today). Sentiment weakened further as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend.
18/12/2014 15:29
Lead prices fell by 1.68 per cent on Thursday at the domestic markets due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 975 metric tonnes to 220800 metric tonnes as on December 18, 2014. At the MCX, Lead futures, for the December 2014 contract, is trading at Rs 116.95 per kg, down by 1.68 per cent, after opening at Rs 119.25, against a previous close of Rs 118.95. It touched an intra-day low of Rs 115.85 till the trading. (At 3.25 PM today). Sentiment weakened further as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend.
