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Lead Bears rule the roost on China fears

Lead prices shed more than 1 per cent in the domestic market on Wednesday as investors and speculators cut bullish bets in the industrial metal amid soft physical demand for Lead in the domestic spot market.

Further, a leading index for China’s economy rose at a slower pace in June as compared to May, signaling no end to the slowdown in the world’s biggest metals consumer, darkening the demand outlook for Lead.

The Conference Board said that its China leading index climbed 1 per cent in June following a 1.1 per cent rise in May.

At the MCX, Lead futures for July 2015 contract is trading at Rs 111.80 per 1 kg, down by 1.02 per cent after opening at Rs 112.75, against the previous closing price of Rs 112.95. It touched the intra-day low of Rs 111.15. (At 14:39 PM).

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