It’s been an amazing week or so for the lead price with a continual climb heading towards US$1/lb. Last night lead closed on the London Metal Exchange at $0.95/lb and it seems to still have upward pressure in the short term. A lot of the upward momentum is being driven by concerns that China will be closing some of its own internal lead mines due to environmental concerns. If this takes place then China will need to important more lead than it does currently and this is underpinning the increase in the lead price. As lead has headed towards US$1/lb, zinc has been left behind somewhat but it is still at a healthy US$0.818/lb
MII Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
