NEW DELHI, Aug 20: Lead fell 0.70 per cent at Rs 142.05 per kg in futures trade today after participants reduced their exposures amid sluggish demand from battery makers in the spot market.
Besides, a weak trend in base metals at the London Metal Exchange also put pressure on lead futures here.
At the Multi Commodity exchange, lead for delivery in August shed Re one, or 0.70 per cent, to Rs 142.05 per kg in business turnover of 1,198 lots.
Metal prices for delivery in the September down 90 paise, or 0.63 per cent, to Rs 141.95 per kg in a business turnover of 187 lots.
Globally, at the London Metal Exchange (LME) lead fell by USD 8.50, to USD 2,241 per tonne.
Market analysts said besides subdued demand from battery-makers in the domestic spot market, a weakening trend the entire base metals at the LME with investors awaiting minutes from the US central bank’s July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps, influenced lead futures prices. (PTI)
&&&&
Follow our WhatsApp channel