Rising worries with respect to European debt crisis coupled with mixed sentiments in the global markets exerted pressure on base metals complex on Wednesday, with lead being an exception.
However, a weaker dollar cushioned sharp decline in the International markets yesterday.
Lead
Lead was the only metal in the base metals space that witnessed gains in yesterday’s trading session. The metal gained around 0.5 percent on the LME and by 0.8 percent on the MCX on Wednesday. Continuously declining lead inventories and dollar weakness acted as a positive factor for lead.
Prices touched an intra-day high of $2167/tonne and closed at $2132/tonne. On the MCX, Lead December contract touched an intra-day high of Rs110.40/kg and closed at Rs109.5/kg yesterday.
Courtesy: Angel Commodities
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