Lead stockpiles decline by almost 20,000 MT during the last thirty trading sessions. Cancelled warrants for the commodity also surged by 7% in the last two trading sessions there by supporting the prices to rise.
Lead was the top performer at the LME platform when compared to its peers up by 1% to close at $2188/MT mark.
--Lead stocks have been broadly declining since last two months at LME designated warehouses. Lead stockpiles decline by almost 20,000 MT during the last thirty trading sessions. Cancelled warrants for the commodity also surged by 7% in the last two trading sessions there by supporting the prices to rise.
--For the day we have a ranged view on the commodity at the MCX pl atform as one side the metal might take positive cues out of cancelled warrants data. However on the other hand the metal might take negative cues out of the statements made by the officials of China Association of Automobile manufacturers(CAAM) where in they expected that auto sal es in china might decline ad government might impose additional restriction on vehicle purchases due to prev alent problem of air pollution and Smog in China.
Lead was the top performer at the LME platform when compared to its peers up by 1% to close at $2188/MT mark.
--Lead stocks have been broadly declining since last two months at LME designated warehouses. Lead stockpiles decline by almost 20,000 MT during the last thirty trading sessions. Cancelled warrants for the commodity also surged by 7% in the last two trading sessions there by supporting the prices to rise.
--For the day we have a ranged view on the commodity at the MCX pl atform as one side the metal might take positive cues out of cancelled warrants data. However on the other hand the metal might take negative cues out of the statements made by the officials of China Association of Automobile manufacturers(CAAM) where in they expected that auto sal es in china might decline ad government might impose additional restriction on vehicle purchases due to prev alent problem of air pollution and Smog in China.