Lead, zinc rally at LME close; inventories remain low

Base metals prices on the London Metal Exchange were mostly higher at the close on Wednesday December 12, with lead rallying over 4%.

The three-month lead price closed at $2,284 per tonne, up $98 per tonne from Tuesday’s 5pm close. The metal traded in a range of $2,196 to $2,288 per tonne throughout the day.
“We have patiently waited for the bearish cross-over between the 50 and 100 DMAs to signal that LME lead price has bottomed. As such, we are not surprised that a similar 'W' reversal pattern is being played out.,” Andy Farida, Fastmarkets analyst said.

“To obtain...

Published

Alice Mason

December 08, 2021

18:10 GMT

London