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With industrial activity recovering in China, will zinc and lead gain further?

Optimism over a quick global economic turnaround following better industrial data from China, has lifted prices of base metals.

June 07, 2020 / 08:18 AM IST

Hareesh V

Zinc and lead, the commodities which are largely used for industrial applications have clawed their way back from a four–year low.

While price of zinc in the benchmark London Metal Exchange recuperated by more than 13 percent, lead gained over 8 percent since March. A similar trend is being witnessed in Indian futures prices as well.

The novel coronavirus crisis, sharp plunge in demand and fears of recession have adversely hit the demand of industrial metals, particularly from the top consumer China. Industrial and manufacturing activities across the globe have also declined to decade low levels.