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Lead The Lone Top Performer, Closes Up By 0.6% at $2167/MT

Published 01/27/2014, 02:51 AM
Updated 05/14/2017, 06:45 AM


Lead was the lone top performer among its peers at the LME platform up by 0.6% to close at $2167/MT mark.

Broadly the lead inventories have been declining since last three months and the cancelled warrants for the commodity also suddenly surged over 35% from 29150 MT to 45,375 MT since last week indicating immediate requirement for the commodity in the short term.

We hold a ranged outlook on the commodity at the MCX platform. However, we have a positive view on the commodity for the week, where we expect a slight pickup in demand from the US due to the abnormally low temperatures, which require frequent replacement of the lead acid batteries in automobiles.

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