The London Metal Exchange three-month lead price rose during morning trading on Thursday October 1, with a large fresh cancelation of some 15,075 tonnes supporting the incline while LME nickel futures similarly traded in positive territory despite thin volumes.
LME lead's outright price was recently trading at $1,835.50 per tonne, climbing by 0.5% from a morning low of $1,811.50 per tonne, while turnover was moderate at some 1,400 lots exchanged as of 10:30am London time. Despite trading firmly above the $1,900-per-tonne threshold for most of September, a steady inflow of material back to LME-registered warehouses dampened LME lead's price action. Yet lackluster commodity demand in Europe and ongoing challenges for automotive sales allowed...