Industrial metals sank as investors scrambled to sell with the announcement of Lehman Brothers’ file for bankruptcy. The US financial system faced an unprecedented shake-up as Bank of America announced it would buy Merrill Lynch, AIG was reported to be seeking help from the Federal Reserve, and the Fed said for the first time [...]
A reduced outlook for Freeport-McMoRan after a setback at their Grasberg mine has led to a rise in the industrial metals complex. Lead rose more than one percent. Lead MPB3 was higher at $1,789/1,7990 against $1,770 and zinc MZN3 gained $24 to $1,742/1,745, while nickel MNI3 eased $25 to $18,475. Read the entire article here.
The weakened US dollar after a rise in crude oil steadied the London Metal Exchange and saw buyers bringing up base metal futures on the Multi Commodity Exchange. Copper inventories fell by 50 tons, while aluminium stockpiles declined by 1,525 tons, traders said. Meanwhile, lead gained 2.2 per cent to 1,845 US dollar a tonne [...]
Lead’s two week low is partially due to the strength of the dollar although its decline is surprising given declining inventories. Nickel, zinc and lead futures also fell on Friday as the rising dollar weighed on the entire complex, analysts said. Lead futures also fell tracking the complex and on a strong dollar, despite the [...]
Lead dropped almost 5 percent to a two week low. Lead MPB3 fell as much as 5 percent to $1,800 a tonne, a two-week low, from $1,891. It was last quoted at $1,825/1,830. Read the complete article here.
The US dollar has been rising over the last month and its current strength dampened the appeal of raw materials such as lead leaving lead to drop. Lead for delivery in three months dropped $46, or 2.4 percent, to $1,900 a metric ton as of 4:38 p.m. on the London Metal Exchange. Prices rose as [...]
Lead closed at $1,950 from $1,909 on Tuesday. The London Metal Exchange (LME) saw stocks fall to their lowest level since June with a 700 tonne drop to 79,150. move LME Cu 7340.00 70.00 +0.96 6670.00 10.04 SHFE Cu* 57710.00 410.00 +0.72 56880.00 1.46 LME Alum 2672.00 -23.00 -0.85 2403.00 11.19 SHFE Alu* 17150.00 -50.00 [...]
Lead dropped after Monday’s close to $1,890. Lead fell to $1,890 after hitting an intra-day low of $1,850, down 4.4 percent against Monday’s close of $1,935. Read the complete article here.
Lead was encouraged to sell on a weak technical close Thursday and investors took profits from the 5 percent gain of lead over the last week. Three-month lead MPB3 dropped 5 percent to a low of $1,940 per tonne before trading at $1,965. Read the complete piece here. Key triggers to sentiment within the base [...]
Lead’s three week high in London based on speculation that China’s demand had improved. China is the world’s largest consumer and producer of lead. Stockpiles monitored by the London Metal Exchange have fallen 18 percent since the end of June, mostly in Singapore, the nearest lead warehouse location to China. The amount of metal earmarked [...]
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