Lead futures extends decline

PTI New Delhi | Updated on June 23, 2011

Amid a weak trend at the London Metal Exchange (LME) and poor spot demand, lead prices fell further by 0.84 per cent at the futures trade today.

At the Multi Commodity Exchange, lead for delivery in June fell by Re 1 or 0.84 per cent to Rs 112.20 per kg with a business turnover of 1,173 lots. Similarly, July contract traded lower by Rs 1.10 to Rs 112.75 per kg with a business turnover of 155 lots.

Market analysts said a weak trend in base metals at the LME, after the Federal Reserve lowered its growth forecast for the US, and slackness in demand at the domestic spot led to the fall in lead prices at the futures trade here.

Meanwhile, lead slid two per cent to $2,492 a tonne at the LME.

Published on June 23, 2011

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