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The claims made by South Korean researchers about LK-99, a lead-based compound, led to unprecedented excitement among experts in the field and also triggered scepticism in the scientific community
Out of the total deliveries of metal, aluminium accounted for 30,771 tonnes, copper 24,852.50 tonnes, lead 10,517 tonnes, nickel 3,646.50 tonnes and zinc 37,027 tonnes
Negative divergence (RSI_14) on daily scale is being seen in Copper since July-end
Lead has made narrow-bodied candles around 158-159 zone
Copper prices are far from 20 DMA and, historically, we have seen mean reversion happens when prices run too far from 20 DMA
Supported by rising demand in the spot markets amid strong global cues, lead futures prices today edged up 0.69% to Rs 109.60 per kg.
Metal for delivery in May too shed 40 paise, or 0.35%, at Rs 114.45 per kg in eight lots
A firming trend in base metals also supported the upside
A firming trend overseas also helped prices
Muted domestic demand also affected prices