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Lead rises by 0.08% on robust US economic data

By Religare
|

Lead prices rose by 0.08 per cent on Friday at the domestic markets as robust US economic data signaled a pickup in the world's biggest economy, lifting the demand outlook for the metal. The number of Americans who filed for unemployment claims fell last week while household spending rebounded last month as incomes increased. At the MCX, Lead futures, for the June 2013 contract, is trading at Rs 122.60 per kg, up by 0.08 per cent, after opening at Rs 122.05, against a previous close of Rs 122.50. It touched an intra-day high of Rs 122.85 till the trading. (At 4.15 PM today).

 

However, gains were curbed due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 300 metric tonnes to 198300 metric tonnes as on June 28, 2013.

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Story first published: Friday, June 28, 2013, 22:51 [IST]
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