Base Metal Lead - Lead futures were trading lower during noon trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal amidst weak physical demand for lead in the domestic spot market.
Further, a dip in German retail sales in October signaled a faltering recovery in Europe’s biggest economy, clouding the demand outlook for the metal.
Retail sales in Germany fell by 0.4 per cent in October 2015 from the previous month.
Meanwhile, industrial output in Japan in October grew by a less than estimated 1.4 per cent, raising doubts over the pace of recovery in the world’s third biggest economy, which slipped into recession last quarter, darkening the demand outlook for the base metal.
At the MCX, Lead futures for November 2015 contract is trading at Rs 107.55 per 1 kg, down by 0.46 per cent after opening at Rs 107.50, against the previous closing price of Rs 108.05. It touched the intra-day low of 107.35.
