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Weak US demand drags down Lead futures

By Religare

Lead prices fell by 0.49 per cent on Monday at the domestic market as disappointing economic data from the US signalled a cooling recovery in the world's biggest economy, clouding the demand outlook for the metal. US housing starts rose less than expected in July while consumer confidence dipped this month. At the MCX, Lead futures, for the August 2013 contract, is trading at Rs 141.15 per kg, down by 0.49 per cent, after opening at Rs 140.70, against a previous close of Rs 141.85. It touched an intra-day low of Rs 139.15 till the trading. (At 4.20 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.

However, losses were curbed 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 1925 metric tonnes to 189000 metric tonnes as on August 19, 2013.

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Story first published: Monday, August 19, 2013, 22:31 [IST]
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