Last Updated : March 09, 2010 14:10
LME Lead sees uptrend despite dollar strength
The 3-month LME Lead forward traded mostly up for the day, despite some dollar strengthening visible in the late evening session.
The prices end the day at $2,257.50 per tonnes, up by around 1.23%.
Inventory as maintained by LME reported lead stocks to add considerable 550 tonnes to total at 170,525 tonnes, while the cancelled warrants ratio, representing material earmarked for delivery lowered to 0.77 as compared to the prior day levels 0.079.
The news for increased demand of zinc from China is taken in account by the sister metal as well. Prices rallied last year by 140% as supported by demand from the automobile sector, using lead in the acid batteries.
Courtesy: Karvy Commtrade Ltd.
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