MCX Base Metal Tips: Lead Bulls rule the roost

MCX Base Metal Tips: Lead futures jumped 2 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead, from battery-makers in the domestic spot market.

Stabilization in China’s exports and imports signaled an improved demand outlook in the economy of the world’s biggest metals consuming nation.

China’s exports fell by 4.1per cent in dollar terms, year on year, in May 2016, against an estimated drop by analysts of 6.8 per cent.

At the MCX, Lead futures, for the June 2016 contract, is trading at Rs 115.9 per kg, up by 2.02 per cent, after opening at Rs 113.65, against a previous close of Rs 113.6. It touched an intra-day high of Rs 116.