LIVE FUTURES REPORT 15/01: LME lead price climbs 1% in continued uptick; Al unmoved despite 52kt fresh cancelation

The three-month lead price on the London Metal Exchange climbed by 1% during morning trading on Wednesday January 15, building on gains made earlier in the week, while stock volatility failed to influence the aluminium price.

Lead’s outright price on the LME was recently seen at $1,970 per tonne, while trading volumes were high over the morning at more than 1,500 lots exchanged as of 9:15am London time. Price action in lead began its ascent on Tuesday, promoted by a large fresh cancelation of some 5,000 tonnes out of LME-registered warehouses in Rotterdam. Total LME lead stocks now sit at 66,450 tonnes, while some 53,600 tonnes remain on-warrant. “The markets are seemingly encouraged by the release of the text for...

Published

Hassan Butt

January 15, 2020

10:14 GMT

London