The base metals pack traded higher on Monday, on account of weakness in the US dollar. However, appreciation in the Indian Rupee capped further gains on the domestic bourses.
Trade in base metals is expected to remain subdued with China, the driver of the base metals market observing a week-long holiday.
Lead
Lead was the top performer on Monday, as the metal rose 2.5 percent on the LME and around 2.2 percent on the MCX.
Weakness in the US dollar and fall in the metal inventories acted as a positive factor for prices yesterday.
Lead inventories declined 0.5 percent to 346,025 tonnes on the LME warehouses on Monday. On the MCX, Lead January contract touched an intra-day high of Rs111.30/kg and closed at Rs110.70/kg yesterday.
Courtesy: Angel Commodities
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