Lead Updates - Lead bites the dust on Tepid Physical Demand

Lead Updates - Lead futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for lead, from battery-makers, in the domestic spot market. 

 

A renewed slump in global equity markets and an extended slide in oil soured the appetite for risky assets, also weighing on the industrial metal.
 

A third straight drop in German business confidence in February signaled a worsening outlook for Europe’s biggest economy, dimming the demand prospects for metals. The gauge measuring German business sentiment fell to 105.7 in February from 107.3 in January.
 

At the MCX, Lead futures for February 2016 contract were trading at Rs.115.75 per 1 kg, down by 1.03 per cent, after opening at Rs. 116.25, against the previous closing price of Rs. 116.95. It touched the intra-day low of Rs. 115.6.