Lead.......Battery material lead has slumped for the second straight day. The metal saw a decline of 1.29 percent in the opening ticks on MCX, giving very little chance for new sellers to enter in the market. The open interest in the contract has increased to 5705 contracts from last night open interest of 5514 contracts. So far 2845 kg of Lead has been traded.
MCX Lead contract was trading at Rs 118.25 per kg; this is a 26 day low for the metal in the exchange. The prices are expected to slip to Rs 115 levels if the psychological barrier of Rs 118 is broken.
LME three month Lead prices were at $ 1988 per tonne, as against $ 2002 per tonne on yesterday's close.
Source by Commodity Insights
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