Second half of 2010 is expected to be a slag period of refined lead in China. The car sales volumes in China have come down and this is expected to impact the markets of refined lead.
Consumption growth for the metal used in batteries is likely to be less than the 9 percent gain in the first half, as per a report from the ministry of commerce in China.
Meanwhile, MCX Lead is down by Rs 2.5 to trade at Rs 100.5 per kg. The declines is due to the fact that the prices were finding tough to gain further from the elevated levels and dollar is also showing strength against the EURO.
Dollar now trades at 1.2702 against EURO, down 22 pips.