CLOSE TO CLOSE: Base metals prices edge up as NYSE reopens

Lead prices recorded further gains during the kerb session on the London Metal Exchange on Wednesday October 31, and other base metals prices also strengthened as the New York Stock Exchange reopened following Hurricane Sandy.

Three-month lead closed for the day at $2,063 per tonne, compared with $2,042 per tonne on Tuesday.

“Lead spreads attracted a bit of attention today as the Nov-Dec [spread] in the heavy metal moved out to [a $12 backwardation] as shorts are trying to cover or roll positions,” an analyst said in a...


Claire Hack

October 31, 2012

17:51 GMT