LIVE FUTURES REPORT 04/05: LME lead reaches new 2021 high; Zn, Cu, Al gain by more than 1%

Lead’s price on the London Metal Exchange reached a fresh year-to-date high and sister metal zinc was trading at its highest since June 2018, supported by the futures complex that continues to be spurred by bullish sentiment.

Lead’s price reached $2,201 per tonne during afternoon trading on Tuesday May 4, the highest since October 2019 and overtaking its previous year-to-date high of $2,185 per tonne on February 22. 
The metal’s closing price was 2.2% higher on Tuesday, at $2,198.50 per tonne, from Friday’s closing price of $2,152 per tonne. Open interest for the metal increased by 1.8% on Tuesday. 

“Resistance is seen at the October 2019 high at $2,265 per tonne, although lead's ability to extend towards this may...


Ana de Liz

May 04, 2021

17:15 GMT