--Lead was the worst performer among the entire base metals pack in the yesterday's trading session at the LME platform up by 1% to close at $2114/MT mark.
--Broadly the lead inventories have been broadly declining since last three months and the cancelled warrants for the commodity also surged over 35% in the last two weeks indicating immediate requirement for the commodity.
--For the day we are recommending to sell Lead from the higher levels. However we are positive on the commodity over near term to medium term as we anticipate uptick in demand for Lead from the US due to the abnormally low temperatures which requires frequent replacement of the Lead acid batteries in the automobiles. As mentioned earlier Lead premiums in the US have also increased to 12 cents per pound from 10 cents per pound for delivery in 2013.
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Lead The Worst Performer, Selling Recommended
Published 01/31/2014, 05:42 AM
Updated 05/14/2017, 06:45 AM
Lead The Worst Performer, Selling Recommended
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