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LME lead price sinks below $2,100/t; aluminium spreads tighten
Date: 11-11-2019 00:00:00

The London Metal Exchange three-month lead price slipped below an important resistance level in unexceptional trading conditions in the morning of Friday November 8. The three-month lead price recently traded at $2,099 per tonne, with some 1,000 lots exchanged as of 9:20am London time. The price fell from an intra-morning high of $2,114.50 per tonne and traded as lows as $2,084 per tonne - its cheapest since October 2. Forward spreads in lead continue to indicate tightness, with the cash/three-month spread recently in a backwardation of $1 per tonne. β€œThe buying yesterday was certainly more of the speculative nature

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