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Declining stockpiles lifts Lead futures

By Religare
|

Lead prices rose by 2 per cent on Friday at the domestic market due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 1050 metric tonnes to 190925 metric tonnes as on August 16, 2013. At the MCX, Lead futures, for the August 2013 contract, is trading at Rs 137.70 per kg, up by 2 per cent, after opening at Rs 135.20, against a previous close of Rs 135. It touched an intra-day high of Rs 138.80 till the trading. (At 3.30 PM today).

 

Sentiment weakened further as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend.

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Story first published: Friday, August 16, 2013, 22:50 [IST]
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