Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2019 | Base Metals

Lead: Stubborn resistance above $2,100 per tonne

Two weeks ago, LME lead prices rallied up to $2,136 per tonne – a level not seen since August last year. They have since reversed by about $100, which highlights that there is still resistance above $2,100 per tonne that needs to be broken before higher levels can be sustained. It has capped advances on three occasions in the past six months: September and October 2018 and now January 2019. But a saucer-shaped base is now in place, which bodes well.

Stock falls continue despite low...


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