Lead was also no exception either and the commodity broadly declined along with the other commodities in the pack.
Broadly the lead inventories have been declining since last three months and the cancelled warrants for the commodity also suddenly surged over 35% since last week indicating immediate requirement for the commodity.
We are recommending selling Lead on a purely technical basis. However, we hold a positive outlook on the commodity in near to medium term on the back of an anticipated increase in demand from the US due to below normal temperatures, which requires frequent replacement of the Lead acid batteries.