LIVE FUTURES REPORT 04/08: LME lead price sinks 1.4%, aluminium consolidates gains in mixed trading

Amid mixed trading activity and a lower dollar index, the London Metal Exchange three-month lead price succumbed to selling pressure during morning trading on Tuesday August 4 while aluminium futures held on to gains made on Monday against moderate turnover.

Lead’s outright price on the LME recently traded at $1,845.50 per tonne, falling from a morning high of $1,871 per tonne, while turnover was moderate at more than 2,000 lots exchanged as of 10am London time. The decline comes despite improved automotive sector consumption, with coronavirus-related closures no longer affecting supply chains due to staggered re-openings over the June-July period, albeit ahead of seasonal maintenance closures set to take place in August. Similarly, selling pressure in LME lead comes despite...

Published

Hassan Butt

August 04, 2020

10:41 GMT

London