Wednesday, December 2, 2015

Lead futures Trading Lower During Noon Trade
Base Metal Tips - Lead futures were trading lower during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amidst weak physical demand from battery-makers, in the domestic spot market.
Meanwhile, a gloomy demand outlook from the US where manufacturing activity shrank at the fastest pace since 2009 in November 2015 also darkened the demand outlook for the industrial metal, which is widely used in factories.
The ISM US manufacturing gauge fell to the lowest level since June 2009 at 48.6 in November from 50.1 in October, with a reading below 50 signaling contraction.
At the MCX, Lead futures for December 2015 contract is trading at Rs 110.35 per 1 kg, down by 0.41 per cent after opening at Rs 110.30, against the previous closing price of Rs 110.80. It touched the intra-day low of 110.05.