There were small rises on the London Metal Exchange for most futures contracts at the close on August 25, with lead rising the most by 1%, despite low volumes traded in some metals.
Lead's three-month price closed above $2,300 per tonne at 5pm for the first time since August 16. It was at $2,318 per tonne at the close, up from Tuesday's close of $2,993.50 per tonne. Its volumes were broadly similar to Tuesday's at 3,300 lots.The lead market remains tight, with its cash/three-month backwardation last reported at $149 per tonne. The backwardation should attract material into the LME - where inventories are just above 57,000 tonnes, their...