Lead prices continued its downward journey

Lead prices continued its downward journey, falling for the fourth day on Thursday at the domestic markets due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity.

 LME lead stocks rose by 1775 metric tonnes to 182200 metric tonnes as on September 12, 2013. At the MCX, Lead futures, for the September 2013 contract, is trading at Rs 133.55 per kg, down by 0.60 per cent, after opening at Rs 134, against a previous close of Rs 134.35. It touched an intra-day low of Rs 132.60 till the trading. (At 6.05 PM today). Sentiment weakened further as a result of low demand for the commodity from battery-maker in the spot market in the midst of weal overseas trend.