Thursday, 29 August 2013

Upbeat demand prospects lift MCX Lead futures

Lead prices rose by 1.36 per cent on Today at the domestic markets after INSEE said that French Business Confidence rose to an annual rate of 98, from 95 in the preceding quarter signaling an improving sentiment in the region which raised the demand outlook for the commodity. At the MCX, Lead futures, for the August 2013 contract, is trading at Rs 148.65 per kg, up by 1.36 per cent, after opening at Rs 147.60, against a previous close of Rs 146.65.Sentiment improved further as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend. 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 250 metric tonnes to 186200 metric tonnes as on August 29, 2013.

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