1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Lead Falls in London

Discussion in 'Uncategorized Threads' started by Joe Potosky, Mar 5, 2008.

Thread Status:
Not open for further replies.
  1. Joe Potosky

    Joe Potosky Well-Known Member

    Jan 29, 1998
    For what it's worth....


    Lead Falls in London on Concern Higher Prices Will Curb Demand

    By Chanyaporn Chanjaroen

    March 5 (Bloomberg) -- Lead fell the most in six weeks in London on speculation this year's 25 percent jump in prices will curb demand as supply from mines expands. Copper and all other metals dropped.

    Lead has declined almost 6 percent from the three-month high reached yesterday as stockpiles of the metal monitored by the London Metal Exchange advanced for an eighth day.

    ``It has gone a bit too far,'' Dan Smith, an analyst at Standard Chartered Plc in London, said by phone. ``People are concerned high prices may hurt demand. There is also massive supply growth coming from new mines.''

    Lead for delivery in three months fell $185, or 5.5 percent, to $3,180 a metric ton as of 12:35 p.m. in London. The contract closed down 1.6 percent yesterday.

    Demand from countries such as China, the world's largest consumer, will keep the market ``tight'' this year, Smith said. Today's decline probably won't last long and lead will rise in the second quarter because of an estimated 18 percent jump in Chinese consumption this year, with the benchmark contract averaging $3,200 a ton in the second quarter, he said.

    BNP Paribas analyst David Thurtell said in a report yesterday that rising mine output and metal extracted from batteries will create an oversupply of about 100,000 tons this year, causing prices to decline.

    The decline in metals prices ``is a healthy and welcome development,'' John Reade, head of metals strategy at UBS AG in London, said in a report today.
  2. hmb

    hmb Well-Known Member

    Jan 29, 1998
    Lead is currently trading at $1.52 a pound. It took a dip this morning to $1.44 and then went straight up. HMB
  3. nipper

    nipper TS Member

    Dec 30, 2007
    I heard a rumor a lead mine was reopening in the US

  4. Mr Newbius©

    Mr Newbius© TS Member

    Feb 20, 2008
    I thought it was a bridge that had fallen down in London.
Thread Status:
Not open for further replies.