Wednesday, 13 November 2013

MCX Lead falls by 0.37% on weak demand outlook

Commodity Insights Reported Lead prices fell by 0.37 per cent on Tuesday at the domestic markets after Istat said that Italian Industrial Production rose less than expected to 0.2 per cent, from -0.2 per cent in the preceding month whose figure was revised up from -0.3 per cent signaling weak industrial activity in the region which reduced the demand outlook for the metal. At the MCX, Lead futures, for the November 2013 contract, is trading at Rs 134.30 per kg, down by 0.37 per cent, after opening at Rs 134.45, against a previous close of Rs 134.80. It touched an intra-day low of Rs 133.70 till the trading.

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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