LIVE FUTURES 05/07: Lead spreads flip again to backwardation; copper leads complex higher

Nearby lead spreads are again in backwardation, with the metal's futures continuing to trade at a discount to cash prices on the London Metal Exchange on July 5.

The LME's cash-three month spread is currently backwardated at $19 per tonne although cash-July and cash-August remain in small contangos.
The LME three-month lead price has gained $12 from Friday's 5pm close to $2,312 per tonne.
"It's causing plenty of headaches out there," a London-based broker told Fastmarkets.

At 75,375 tonnes in total and...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps