Lead futures shed in thin trade

In a range bound activity, lead futures on Tuesday fell by 0.83 per cent, to Rs 119.15 per kg, as speculators reduced positions, driven by weak trend overseas.

Written by Agencies

February 22, 2011 13:44 IST

In a range bound activity, lead futures on Tuesday fell by 0.83 per cent, to Rs 119.15 per kg, as speculators reduced positions, driven by weak trend overseas.

Sluggish demand from battery makers at the spot market, also put pressure on the lead futures prices here.

At the Multi Commodity Exchange counter, lead for February delivery fell by rupee one, or 0.83 per cent, to Rs 119.15 per kg, with a business turnover of 31 lots.

Similarly, the metal for delivery in March, shed 90 paise, or 0.75 per cent, to Rs 119.45 per kg, with a business turnover of five lots.

Market analysts said weak trend in the entire base metals in overseas markets and subdued demand at the domestic market mainly put pressure on the lead futures prices here.

Meanwhile, the London Metal Exchange, lead traded 2.1 per cent to USD 2,620 per tonne.

This article was first uploaded on February twenty-two, twenty eleven, at forty-four minutes past one in the afternoon.