Favorable home sales data from the US acted as a supportive factor for the base metals on the LME on Thursday. Additionally upbeat sentiments in the global markets also lead upside in the metal prices yesterday.
Lead
Lead was the top performer of the day, as the metal rose around 1.7 percent on the LME and by 2 percent on the MCX on Thursday.
The metal received support from fall in inventories on the LME warehouses. Lead inventories declined almost 1 percent to 353,250 tonnes yesterday.
On the MCX, Lead December contract touched an intra-day high of Rs105.90/kg and closed its trading session at the level of Rs105.60/kg on Thursday.
Courtesy: Angel Commodities
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