Base metals prices trading on the London Metal Exchange were largely lower at the 5pm close on Tuesday February 20, except for lead and nickel which saw upticks at the end of the day.
The three-month lead price closed $23 higher as it looked to break back above the $2,600 per tonne support level. "The outlook for lead remains upbeat; concentrate availability remains tight and firm premiums signal strong demand, thereby creating favorable fundamentals," Metal Bulletin analyst James Moore said. "We believe they will gradually work higher across the medium-to-longer term as a result of the persistent tightness in the concentrate market," he added. Nickel...