Lead and nickel's forward prices had the biggest increases among the London Metals Exchange complex on Wednesday January 13, with the rest of the metals trading sideways amid supportive sentiment from the prospect of a new stimulus package in the United States.
Lead's three-month price was at $2,039.50 per tonne just before 9:30am, a 0.9% increase from its closing price on Tuesday. The metal fell by 1.7% on Monday to $1,966 per tonne at 5pm and rebounded to a closing price of $2,021 per tonne, a 2.7% rise, on Tuesday. There was a fresh cancellation of 725 tonnes of lead on Wednesday morning, largely from Italian LME warehouse stocks in Livorno (600 tonnes) and Genova (100 tonnes). On-warrant lead stock has decreased to 74,375 tonnes from 80,950 tonnes on the first trading day...