Comments
In a range-bound movement, lead prices fell by 0.26 per cent to Rs 113.15 per kg at the futures trade today after speculators off-loaded their positions in view of ending monthly contract.
Besides, subdued demand at the domestic spot market also put pressure on prices at the futures trade.
At the Multi Commodity Exchange, lead for delivery in May moved down by 30 paise or 0.26 per cent to Rs 113.15 per kg with a business turnover of 332 lots.
Likewise, the metal for delivery in June traded lower by 25 paise or 0.22 per cent to Rs 113.85 per kg with an open interest of 58 lots.
Market analysts said apart from winding up of positions by speculators in view of ending monthly contract, reduced offtake by battery makers in the physical markets also weighed down on the lead futures prices.
Meanwhile, at the London Metal Exchange, lead was trading almost flat at $2,506 a tonne in the early trade today.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.