| Lead suffered its biggest one-day loss in nine months on Wednesday, dropping more than 3 percent after a surge in inventories highlighted the market was well supplied. Other metals were mixed. Data showed that lead inventories at warehouses registered by the London Metal Exchange MPBSTX-TOTAL rose by 10 percent or 18,325 tonnes in one day.
"I don't really think there's any particular shortage of lead. The key market in lead is China and that's been pretty weak," said Citi analyst David Wilson. Data on Monday showed the global lead market surplus last year climbed to 63,000 tonnes from a surplus of 10,000 tonnes in 2014...............................................Full Article: Source
|