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[India]
Posted on : Jan 17, 2011
Range bound trades are seen in lead markets on MCX. The prices have seen a range of 118-122 per kg in last few days. The markets of lead are driven by the demand from battery markets. The report from International Lead Association shows that the 85% of lead goes to lead acid battery manufacturing. China is the number one manufacturer of Car batteries. However chinese monetary tightening measures and expectations of slower growth is likely to bring lead markets under scanner.

As per the last monthly report released from International Lead and Zinc Study Group (ILZSG), Lead markets were in surplus of 51000 tonnes during Jan-Oct 2010. The basic reason for the surplus was the rise in metal production. World Lead metal production stood at 7677 kt in Jan-Oct 2010, from against 7314 kt in Jan-Oct 2009. This marked the overall rise 5%.

MCX Lead benchmark expiry contract is trading at Rs. 119.95 per kg, down 0.25% from last session. The trading range of 122-118 is expected to remain same on Friday's session as well.
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