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Soft physical demand pulls down Lead

By Religare
|

Lead futures were trading on a bearish note during noon trade in the domestic market on Friday as investors and speculators cut risky bets in the industrial metal amid weak physical demand for Lead in the domestic spot market.

However, the losses in the industrial metal were curbed by speculation that a pickup in the American economy may bolster the demand for Lead. The American economy expanded at an annualized pace of 2.3 per cent in the June quarter following a revised 0.6 per cent gain in Q1, with consumer spending, the main growth driver, rising at a 2.9 per cent pace, compared to a 1.8 per cent advance in the March quarter.

 

At the MCX, Lead futures for July 2015 contract is trading at Rs 108.80 per 1 kg, down by 0.55 per cent after opening at Rs 109.15, against the previous closing price of Rs 109.40. It touched the intra-day low of Rs 108.75. (At 12:25 PM).

Story first published: Friday, July 31, 2015, 23:00 [IST]
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