July 2012 | Base Metals
Oversold position getting unwound: Lead - Market Analysis
This market had become oversold, as evidenced by the re-emergence of a discount to zinc, and the scale of Friday’s rebound. However, there is little fundamental news to support the higher prices.
All quiet in the physical market
Prices generally seem to be reacting to macro events, as there has been little lead-specific news and little action on LME lead stocks recently. Last week stocks dropped 1,425 tonnes and cancelled warrants fell 2,450 tonnes, with no major warrant cancellations seen. The spreads have also been quiet....
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.
Subscribe