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(AMM) Lead scrap spreads widen; weather hits battery supply
January 24, 2011 - 16:00 GMT
Primary lead price volatility has pushed consumers further away from the lead scrap market as smelters maintain wide spreads and refuse to let prices chase a primary market they see as devoid of fundamental realities.
Three-month lead prices closed the official ring on the
London Metal Exchange at $2,395 per tonne ($1.0864 per pound)
Monday, down 10.5 percent from the peak so far this month of
$2,677 per tonne ($1.2143) on Jan. 17 but still slightly higher
than the $2,393-per-tonne ($1.0854-per-pound) level seen on
Dec. 9. LME inventories of the metal moved to 266,775 tonnes as
of Monday, up 24.6 percent and nearly 30 percent in the same
This volatility has forced a wider range of transactions on
Auto batteries continue to be the most...
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Euromoney Institutional Investor PLC.
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