Lead falls on reduced offtake

PTI New Delhi | Updated on June 20, 2011

Lead declined by 0.59 per cent to Rs 108.65 per kg in futures trade today on reduced offtake by battery makers, tracking a weakening global trend.

At the Multi Commodity Exchange, lead for June delivery declined by 65 paise or 0.59 per cent to Rs 108.65 per kg with a business turnover of 3,957 lots.

Similarly, the metal for delivery in July was trading lower by the same margin at Rs 109.80 per kg with an open interest for 381 lots.

Traders said besides a weakening global trend, reduced offtake by battery makers mainly caused lead prices to decline in futures trade.

Meanwhile, lead fell by 0.2 per cent in London to $2,445 a tonne.

Published on June 20, 2011

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