Lead in reverse gear
04/08/2016 14:30
Lead futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid soft physical demand for lead from battery-makers in the spot market.
Traders erred on the side of caution ahead of Friday’s US jobs data which will signal the health of the labour market recovery of the world’s biggest economy and offer clues over the metal’s demand outlook. Analysts are expecting a 180K addition to US non-farm payrolls in July after a 287,000 increase in June.
At the MCX, Lead futures for August 2016 contract is trading at Rs 120.40 per kg, down by 0.45 per cent, after opening at Rs 120.85, against a previous close of Rs 120.95. It touched the intra-day low of Rs 120.15 (at 14:25 PM).
04/08/2016 14:30
Traders erred on the side of caution ahead of Friday’s US jobs data which will signal the health of the labour market recovery of the world’s biggest economy and offer clues over the metal’s demand outlook. Analysts are expecting a 180K addition to US non-farm payrolls in July after a 287,000 increase in June.
At the MCX, Lead futures for August 2016 contract is trading at Rs 120.40 per kg, down by 0.45 per cent, after opening at Rs 120.85, against a previous close of Rs 120.95. It touched the intra-day low of Rs 120.15 (at 14:25 PM).
