Lead dropped on the MCX by an average of three percent with concerns about reduced global demand and an increase of problems within the European banking sector.  London Metal Exchange‘s warehouse inventories supported lead and zinc with a gradual decline.

According to Gallipeli, zinc prices continue to find support as the metal is perceived to be oversold and hovers around key support levels. For lead, on the other hand, the downside could be supported by the news that China’s largest lead miner Yuagong announced a closure of its major mining facility.