Base Metals Down on weak demand

Lead futures shed 0.79%, hurt by muted spot demand 

Lead prices were down 0.79 per cent to Rs 150.20 per kg in futures trading today as participants reduced their exposure amid subdued demand from consuming industries in the spot market. 

At the Multi Commodity Exchange, lead for delivery in July declined by Rs 1.20, or 0.79 per cent, to Rs 150.20 per kg, in a business turnover of 889 lots. 

Likewise, the metal for delivery in August shed Rs 1 shed Rs 1.10, or 0.72 per cent, to Rs 151 per kg in two lots. 

Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets. 

Nickel futures fall as muted demand hurts 

Amid muted demand at domestic spot markets and profit-booking by speculators nickel prices dropped 1.47 per cent to Rs 598 per kg in futures trade today. 

At the Multi Commodity Exchange, nickel for delivery in July was trading Rs 8.90, or 1.47 per cent down, at Rs 598 per kg, in a business turnover of 2,314 lots. 

The metal for delivery in August also shed Rs 8.90, or 1.45 per cent, to Rs 603.20 per kg, in a turnover of 106 lots. 

Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend at the domestic spot markets due to easing demand from alloy-makers. 

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