LIVE FUTURES REPORT 12/03: LME lead price hits fresh 2018-low; all base metals back under pressure

Base metals prices on the London Metal Exchange were lower across the board at the close on Monday March 12, with overhead selling pressure weakening prices.

Lead plummeted 2.7% today as it hit a fresh 2018-low of $2,311 per tonne – the metal failed to hold onto the gains it registered on Friday and lacks significant support. “[Lead] has struggled ever since the 2018-high at $2,685 per tonne due to deteriorating micro-dynamics… Price sentiment weakened further into March while previously low available stocks at 77,275 tonnes on February 23 surged as high as 100,150 tonnes,” Andy Farida, Metal Bulletin analyst said. Zinc followed its sister metal and closed 1.7% per tonne lower,...

Published

Alice Mason

March 12, 2018

17:55 GMT

London