June 2009 | Base Metals
Prices have now more than doubled since December: Lead - Market Analysis
Recent supply cuts, low stocks, a robust Chinese auto market and the approach of the summer battery season are all supportive to lead.
LME three-month official lead prices stormed through the $1,700/tonne and $1,800/tonne landmarks in two consecutive days last week, reaching $1,817/tonne by Friday, which is the highest level since early October. However, volatility is increasing dangerously, and by the close yesterday the price had slipped all the way back to $1,670/tonne. Moreover, the contango is widening, stocks were up again...
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