Lead poised for run-up as stocks remain tight

Nov 29, 2007 | 12:34 PM | Meghann McDonell

Lead prices are expected to rebound following a flurry of profit-taking as stocks held in London Metal Exchange-registered warehouses remain at critical levels, according to trade sources.

Lead prices inched higher Thursday on the LME, with three-month metal posting an official settlement of $3,057 per tonne, up from Wednesday's close at $2,956 but a far cry from its peak of $3,860 per tonne in early October following a fire at Xstrata Plc's Mount Isa smelter in Queensland, Australia.....

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