Lead buoyant despite dip as shortage lingers
Nov 22, 2005 | 04:39 PM
| Matthew Lerner
Lead remained buoyant as cash prices held above the $1,000-a-tonne mark on the London Metal Exchange Tuesday, driven primarily by overall robust demand, a tightening in market forecasts and ongoing warehouse drawdowns.
The metal remains strong despite logging a slight decline for the day, with cash prices ending the second ring at $1,012 a tonne, down $8 from Monday's $1,020-a-tonne kerb close.
On a three-month basis, lead fell $10 to $979 at the final kerb close. Warehouse outflows of lead totaled 225 tonnes, leaving 44,350 tonnes available in LME stores."That's not a lot of material," one market source said. "There is not enough freely available material."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.