MCX Lead Sideways On Monday

Indian Lead prices were sideways in the session on Monday. The Lead futures on MCX are quoting at Rs 164.6 per kg. The prices tested a high of Rs 164.9 per kg, and a low of Rs 163.7 per kg.

International Lead and Zinc Study Group (ILZSG) mentioned that lead market was in deficit by 116 kt in January to April 2018 which follows a deficit of 412 kt recorded in the whole of 2017. Total stocks at the end of April were 25ktlower than at the end of 2017.

World refined production during January to April 2018 from both primary and secondary sources was 38474 kt which was 3.3 per cent higher than in the comparable months of 2017. Chinese demand was 62 kt above the comparable period in 2017and represented just under 43 per cent of the global total.For the USA, apparent demand has decreased by 16 kt for January to April 2018 compared to the same months of 2017. In April 2018, refined lead production was 925.7kt and consumption was 987.8 kt.