Futures contracts of lead and zinc gained sharply on MCX tracking the benchmark contracts on LME and also due to a weak rupee against the dollar. China, which imports lead ore from North Korea, suspended trade due to the recent United Nations sanctions on the latter. Prices of the metal rose on MCX and LME due to concerns over supply crunch. Prices of zinc rose on both bourses due to an increase in China's steel output over the last few weeks. Demand for zinc is likely to rise in China as the metal is used to galvanise steel products.
Source: Newswire
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