Today in Noon Lead futures gain on upsurge in demand

During the afternoon trade, Lead futures were trading high in the domestic market on Monday as participants widened their positions in the industrial metal due to pick up in physical demand for lead, from battery-makers, in the domestic spot market.

Also, a rise in demand from battery-makers in the domestic spot market, supported prices of lead at futures trade. At the MCX, lead futures for October 2016 contract is trading at Rs 139.80 per kg, upward by 0.90 %, after opening at Rs 138.90, against a last close of Rs 138.55. It touched the intra-day higher of Rs 140.45.

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Lead extends drop in midday trade

During noon trade lead futures fell in the domestic market on Thursday as investors and speculators exit positions in the industrial metal among weak physical demand for lead, from battery-makers, in the domestic spot market. 

Traders cast apart improved US labour market data as job openings surged by the most in six months, up by 228,000 to 5.87 million in July. 

At the MCX, lead futures for Sept 2016 contract is trading at Rs 126.4 per kg, down by 0.71 %, after opening at Rs 127.20, against a last close of Rs 127.30. It touched the intra-day low of Rs 126.30.

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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.

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Lead Trading lower During Noon Trade On Monday

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.

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