Lead Update's

MCX lead futures were down on account of profit booking from higher levels. Trend fron International markets along with rise in Indian Rupee were the major reasons for a sell in Lead. LME three month forwards were down by $ 14 per tonne at $ 2225 per tonne. Indian Lead futures were trading at Rs 121 per kg, down 0.53%.

UPS batteries continued to grow robustly this year but the onset of winters is expected to derail this demand as well. The remaining quarter might have to handle subdued demand as UPS and invertor sales decline in winters.

Meanwhile, tensions of China and Japan continued. China and Japan are in a cold war sort of situation after Japanese claims of uninhabited islands in East China sea. Chinese buyers were holding their buying from Japanese manufacturers as resentment. But many believed that this is a temporary phenomenon and Chinese automobile sales will remain quite robust in longer run.