LME OFFICIALS: Massive warrant cancellations propel lead above $1,820

Lead prices soared in official trading on the London Metal Exchange on Monday March 23, following the cancellation of almost 100,000 tonnes of warrants – equal to about 50% of all lead stocks – in various locations.

“Overnight, cancelled warrants have gone from barely 5% of total LME inventory to 46%. The cancellations were deliberate and took place throughout Europe and Asia. Various theories about why the...

Published

Janie Davies

March 23, 2015

16:00 GMT

London