Monday, November 29, 1999

Lead futures trade lower on profit taking

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New Delhi, June 17 (PTI) Lead prices declined by Rs 1.30 or 1.60 per cent to Rs 80 per kg in futures trade today after speculators booked profits, amid weak trend in overseas markets. Reduced offtake from battery makers also kept pressure on the lead futures prices. At the Multi Commodity Exchange counter, lead for June contract declined by Rs 1.30, or 1.60 per cent to Rs 80 per kg, with an open interest of 7,748 lots. The metal for delivery in July contract also weakened by Rs 1.25, or 1.52 per cent to Rs 81.10 per kg, with a business volume of 1,467 lots. Analysts attributed the decline in lead futures prices to profit booking by speculators and weak trend at the London Metal Exchange. Meanwhile, at the London Metal Exchange, lead dropped 1.7 per cent to USD 1,731 a metric tonne.

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