The base metals pack delivered a worst performance on the LME on Wednesday.
Factors that affected metal prices wererising worries over global economic recovery threatened demand for the metals, growing uncertainty in the Euro Zone debt problems and weak sentiments in the global markets.
Lead
Lead was the top loser on Wednesday, as the metal dropped by 4.2 percent on the LME and almost 4 percent on the MCX. Rising inventories acted as a negative factor for prices.
On a weekly basis, lead inventories rose around 0.5 percent to reach the level of 388,350 tonnes on Wednesday. On a month-to date, inventories surged around 4 percent from the previous level of 373600 on 30th September 2011.
Copper
Copper prices declined around 3.5 on the LME as well as on the MCX in yesterday’s trade, mainly on the back of escalating global economy which created demand concerns.
The red metal touched an intra-day low of $7170/tonne and closed $7180/tonne on Wednesday. On the MCX, copper touched an intra-day low of Rs.355.10/kg and ended its trading session at Rs.355.50/kg yesterday.
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Base Metals Deliver Worst Performance, Lead Top Loser
Published 10/20/2011, 09:20 AM
Updated 05/14/2017, 06:45 AM
Base Metals Deliver Worst Performance, Lead Top Loser
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