Robust Euro area data fails to boost Lead
03/08/2016 15:15
Lead futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for lead from battery-makers, in the spot market.
However, a pickup in the 19-member Euro Area economy bolstered the demand outlook for the metal, trimming losses in lead. A combined gauge measuring manufacturing and services in the Euro area climbed to 53.2 in July from 53.1 in June, with a reading above 50 signaling expansion.
At the MCX, Lead futures for August 2016 contract is trading at Rs 121.20 per kg, down by 0.25 per cent, after opening at Rs 121.25, against a previous close of Rs 121.50. It touched the intra-day low of Rs 120.65. (At 15:09 PM).
03/08/2016 15:15
However, a pickup in the 19-member Euro Area economy bolstered the demand outlook for the metal, trimming losses in lead. A combined gauge measuring manufacturing and services in the Euro area climbed to 53.2 in July from 53.1 in June, with a reading above 50 signaling expansion.
At the MCX, Lead futures for August 2016 contract is trading at Rs 121.20 per kg, down by 0.25 per cent, after opening at Rs 121.25, against a previous close of Rs 121.50. It touched the intra-day low of Rs 120.65. (At 15:09 PM).
