Price working higher, approaching October 2017 high Given Glencore’s Lady Loretta restart announcements in December, it is interesting that lead prices have continued to work higher. But lead has underperformed sister metal zinc, which has seen fresh 10-year highs. The upward trend in lead prices has recently been given a boost by the cold weather and snow that has hit the North-East USA and that may well lead to further price gains. Lead supply likely to remain tight despite Lady Loretta restart Custom lead smelters may still be forced to cut production as low TCs cut into their margins. The restart Lady Loretta is unlikely to increase availability in the spot concentrate market as the material is likely be used internally by Glencore,...
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