Lead futures down on weak global cues

PTI New Delhi | Updated on May 12, 2011

Lead prices fell by 0.63 per cent to Rs 102.05 per kg at the futures trading today as speculators reduced their positions driven by a weakening global trend.

At the Multi Commodity Exchange, lead for delivery in May declined by 65 paise or 0.63 per cent to Rs 102.05 per kg with a business turnover of 714 lots. Similarly, June contract shed 55 paise or 0.53 per cent to Rs 102.50 per kg with a business volume of 38 lots.

Market analysts said speculators reduced their positions amid a weakening trend in copper and other base metals at the London Metal Exchange on demand concerns, which led to the fall in lead futures prices.

Meanwhile, at the LME, lead lost 0.8 per cent to $2,276 per tonne.

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Published on May 12, 2011
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