Lead Hits Two Week High
As inventories drop lead has hit a two-week high. Lead shifted from $1,855 at close on Tuesday to a last quote of $1,925/1,930.
Prices for zinc, lead and nickel all rebounded, after declining on Tuesday, as inventories fell in London Metal Exchange warehouses and as the dollar eased from its 2008 highs against a basket of currencies.
Three-month lead MPB3 rose 5.1 percent to $1,950 a tonne, a two-week high, as inventories in LME warehouses fell 3,050 tonnes to 83,375 tonnes, the lowest level since June 13.
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Wed, Aug 27, 2008
Post by Melissa Pistilli, Lead Senior Reporter