LIVE FUTURES 02/08: Lead sets year-to-date high above $2,400 but copper, nickel fall

The price of lead reached a new year-to-date peak of $2,412.50 per tonne on Monday August 2, while nickel and copper faltered in trading on the London Metal Exchange.

Lead’s three-month price was at its highest on Monday for 37 months, since July 2, 2018. The metal’s price was up by 0.8% from its price last Friday, hitting $2,402 per tonne at the close of trading. It had risen by 5.5% last month. Europe’s major lead smelter, Berzelius, made a declaration of force majeure at the end of July, which made the price of lead run higher on Monday. Its cash-to-three-month spread flipped into a backwardation following the news from Berzelius, and has...

Published

Ana de Liz

August 02, 2021

17:58 GMT

London