lead does it again.

Hi All.

For those who think the price of lead and zinc has something to do with Intecs share price then lead does it again with a substantial rise overnight. Pity zinc can't get up where lead is but zinc did rise also.

Cheers.

Lead Rises in London on Indications China's Imports May Expand

July 28 (Bloomberg) -- Lead rose the most in more than two weeks in London on indications that China, the world's largest producer and user of the metal, may import more.

Stockpiles of lead in Singapore warehouses monitored by the London Metal Exchange have fallen 32 percent since June. Canceled warrants, or the amount earmarked for withdrawal, jumped 36 percent, according to the exchange's report today. Singapore is the nearest exchange warehouse location for China for lead.

China's ``domestic lead demand has remained strong in 2008,'' Jim Lennon and Adam Rowley, analysts at Macquarie Group Ltd. in London, said in a report today. ``A large increase in LME-canceled warrants in Singapore was reportedly due to market participants looking to move metal from the LME to China, selling the material for a profit.''

Lead for delivery in three months increased as much as $119, or 5.6 percent, to $2,234 a metric ton as of 4:30 p.m. on the LME, the biggest intraday gain since July 10. The contract has increased 24 percent this month. Still, it's the third-worst performer this year among the six main metals traded on the bourse, behind nickel and zinc.

The advance of lead, mostly used in car batteries, has narrowed a gap between international and Chinese prices, and may encourage more exports from the world's most-populous nation, Lennon and Rowley said in the report. China's lead imports dropped 62 percent to 1,925 tons in June from a year ago.

Total LME lead inventories fell 0.6 percent to 90,725 tons.

Canceled warrants in Long Beach, California, increased to 3,350 tons as of today, from none on July 9. A July 3 fire at Quemetco Inc.'s lead recycling plant in California halted production, according to a monthly report by Fortis. It has an annual capacity of 120,000 tons, the report said.