After getting cornered by more than 3 percent on Monday, Lead has eradicated half of its losses on Tuesday as it pumped up by 1.2 percent. The LME three month Lead prices were seen trading at $ 1873.75 per tonne, against $ 1841 per tonne on Monday.
International Zinc Study Group (ILZSG) reported that the global Lead markets were in surplus of 8000 tonnes in January- February 2013. This was lower than 26000 tonnes surplus in January-February 2013.
Total production of Refined Lead was 1.683 million tonnes in January-February 2013 while the refined Lead consumption was 1.675 million tonnes in the same period.
On MCX, Lead April contract is trading at Rs 109.9 per kg, down 0.7 percent on account of recovery in Rupee against the US Dollar. The Indian Rupee was seen trading at 54.34 against the greenback, up 0.5 percent.
Source by Commodity Insights
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