Base metals prices on the London Metal Exchange were higher across the board in morning trading on Monday January 22, with the dollar still weak.
The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bullish tone for sister-metal zinc. "A growing market deficit, ongoing tightness in the global lead concentrate market and a robust macroeconomic backdrop are supportive elements that have fueled the LME lead price into a fresh 2018 high," Metal Bulletin analyst Andy Farida said. "We envisage the price to work its way higher albeit slowly but vulnerable to potential selling bouts if fresh...