LIVE FUTURES REPORT 10/02: LME lead at 7-mth low on selling momentum; nickel fails to breach $13,000/t

The London Metal Exchange three-month lead price closed at its lowest level since May 2019 on Monday February 10, dipping below the key $1,800-per-tonne support level, while nickel futures struggled to breach resistance against thin trading volumes.

Lead’s underlying price on the LME closed at $1,796 per tonne, with its price action slipping from an intraday high of $1,825 per tonne while turnover was at its lowest since January 24 with some 3,250 lots exchanged by the close.  Selling pressure remains a prominent feature in LME lead's complex in recent weeks, with the metal shedding over 7% of its three-month price since the start of 2020.  Despite this, LME...


Hassan Butt

February 10, 2020

18:05 GMT