LIVE FUTURES REPORT 12/10: LME base metals prices hold ground; lead up 2.5%

Movements in the prices of base metals on the London Metal Exchange were mostly upward at the close of trading on Friday October 12.

This was supported by the emergence of fresh buying amid a softer US dollar index and increased market optimism about trade talks between the United States and China. Most prominent among the gains in the complex over the afternoon was the rise in the three-month lead price by just under 10% from Thursday’s low of $1,876 per tonne, to close on Friday above $2,000 per tonne for the first time since October 3. A gradual recovery in the global equity markets over the morning resulted in investors returning to the market, which added to the buying momentum, while LME inventory drawdowns persisted with lead consumption outstripping supply, according to Fastmarkets Research. “Total lead mine output has declined by 114,000 tonnes or 4.2% from...

Published

Hassan Butt

October 12, 2018

18:35 GMT

London