Lead in reverse gear

Lead in reverse gear

13/10/2016 14:03

Lead futures tumbled during trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead, from battery-makers, in the domestic spot market.

Further, a sharp drop in Chinese exports, which fell by 10 per cent on the year in September 2016 signaled worsening outlook in the economy of the world’s biggest metal consuming nation.

At the MCX, lead futures for October 2016 contract is trading at Rs 134.15 per kg, down by 0.7 per cent, after opening at Rs 135.70, against a previous close of Rs 135.10. It touched the intra-day low of Rs 133.95 (at 13:59 PM).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s