--Lead was the worst performer among the entire base metals pack in the yesterday's trading session at the LME platform declining by 1.3% to close at $2137.50/MT mark.
--During the day the commodity might get support from its inventories which have been broadly declining since last twenty trading session. However the positivism on the inventory front is being negated by the cancelled warrants indicating lower spot demand. The cancelled warrants for the commodity declined from 45,375 MT to 33,575 MT.
--There is no major developments pertaining to the commodity in the very short tem. We expect it to trade in a ranged manner with a slight negative bias in Intra-day amidst mixed cues out inventory and also looking at the recent batch of auto sales number from the US, Europe and India. It should be added that the recently published car registration number from EU saw a growth was around 5% though rise in YoY basis was down from over 12% last month.