We'll know soon enough! I suspect that the shorts covering have a lot to do with the price rise. I have been watching lead & zinc closely for a while and noticed that if the gap between lead & zinc get to within $300, then buy zinc for a rapid movement to increase the gap by $500-$600. The below screenshot shows the LME cash price is actually US$90 below spot. The 3mth contract is $2145.50, also below spot.
Go Lead (Pb), leave 'em for dead., page-85
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10.0¢ |
Change
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Mkt cap ! $23.34M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $24.40K | 242.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 236737 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 165301 | 2 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BML (ASX) Chart |