Friday, 8 January 2016
Lead gains on drop in inventories
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Lead prices rose by 0.64 per cent on Friday at the domestic markets due to a decline in lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity.
LME lead stocks fell by 100 metric tonnes to 191175 metric tonnes as on January 8, 2016. At the MCX, Lead futures, for the January 2016 contract, is trading at Rs 110.90 per kg, up by 0.64 per cent, after opening at Rs 109.90, against a previous close of Rs 110.20. .
It touched an intra-day high of Rs 111.25 till the trading. (At 3.30 PM today). Sentiment improved further due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a srong trend at the global market.