Lead was the worst performer on the London Metal Exchange at the close on Wednesday February 26, wiping out all gains it made on Tuesday.
The three-month lead price closed at $1,817 per tonne, down from $1,858 per tonne the previous day when it had risen by 2%. Forward spreads in LME lead remain in a backwardation but significantly narrower than the previous day. The benchmark cash/three-month spread was recently trading in a $34.25 per tonne backwardation, from $54.50 per tonne the previous day. Copper recorded the highest daily...