The three-month lead price on the London Metal Exchange climbed by 0.5% during morning trading on Monday January 20, briefly breaching the $2,000 per tonne mark, while continued inflows of nickel have prompted minimal price reaction.
Lead's outright price on the LME rose above $2,000 per tonne during morning trading before dipping back below the key resistance level to $1,985 per tonne. Trading volumes were steady at more than 500 lots exchanged as of 9am London time. The LME lead price reached a weekly high of $2,038 per tonne last week but has not closed above $2,000 per tonne since November 15. Supporting buying momentum,...