May 2012 | Base Metals
Looking for technical support: Lead - Market Analysis
Prices have fallen sharply. Given the economic backdrop and weaker auto sales in China that is not surprising. We would look for technical support in the mid-$1,900s/tonne.
Cancelled warrants stay high, as stock withdrawals remain routine
LME stocks dropped 4,250 tonnes last week to stand at 352,275 tonnes, down from this year’s high of 383,700 tonnes seen in February. The bulk of the outflow is from Port Klang, although there have been numerous smaller shipments across Europe and out of Singapore. Cancelled warrants dropped over the week but there were fresh...
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