May 2012 | Base Metals
Cancellations getting significant again: Lead - Market Analysis
Cancelled warrants have also climbed sharply in this market. Combined with supply disruptions, this is underpinning prices. However, a global market surplus is still expected this year.
Cancelled warrants take-off
LME lead stock flows have remained routine, with metal regularly leaving Detroit, Barcelona and Port Klang, though the latter saw a pick-up in two-way activity towards the end of last week. However, the more interesting development was the run-up in cancelled warrants. They climbed to 76,900 tonnes on Friday, from 37,150 tonnes the...
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