Weak euro area data drag down Lead futures
31/03/2015 13:27
Lead prices fell by 0.22 per cent on Tuesday at the domestic markets after retail sales in Spain fell more-than-expected last month signaling weak sentiment in the euro area which reduced the demand outlook for the metal. In a report, INE - National Institute of Statistics said that Spanish retail sales fell to a seasonally adjusted annual rate of 2.7 per cent, from 4.1 per cent in the preceding month. At the MCX, Lead futures, for the March 2015 contract, is trading at Rs 114 per kg, down by 0.22 per cent, after opening at Rs 114.05, against a previous close of Rs 114.25. It touched an intra-day low of Rs 113.65 till the trading. (At 1.13 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.
31/03/2015 13:27
Lead prices fell by 0.22 per cent on Tuesday at the domestic markets after retail sales in Spain fell more-than-expected last month signaling weak sentiment in the euro area which reduced the demand outlook for the metal. In a report, INE - National Institute of Statistics said that Spanish retail sales fell to a seasonally adjusted annual rate of 2.7 per cent, from 4.1 per cent in the preceding month. At the MCX, Lead futures, for the March 2015 contract, is trading at Rs 114 per kg, down by 0.22 per cent, after opening at Rs 114.05, against a previous close of Rs 114.25. It touched an intra-day low of Rs 113.65 till the trading. (At 1.13 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.
