LME Lead Stockpiles Jump 80,700 Tons to 370,075, Dragging Prices Lower
Updated
Updated · Bloomberg · Jul 14
LME Lead Stockpiles Jump 80,700 Tons to 370,075, Dragging Prices Lower
1 articles · Updated · Bloomberg · Jul 14
Summary
370,075 tons of lead now sit in LME warehouses after an 80,700-ton jump—the biggest delivery into the exchange's system in records dating back to 1970.
Singapore drove the surge, with inflows swelling a stockpile that has been building in the city-state for years.
Lead prices fell after the inventory spike signaled a deepening surplus in the market.
Flatlining demand for lead-acid batteries has helped fuel that surplus, adding to pressure on lead prices.