LONDON — Lead hit a new high in early business at the London Metal Exchange on Thursday, supported by a tight supply outlook combined with strong demand from battery makers, analysts said.
The metal has outperformed other LME contracts, and indeed most other assets, with gains of 130 per cent since the start of the year.
By 10:30 (GMT), lead for delivery in three months traded up to $3,890 (U.S.) per tonne on electronic dealing system Select, surpassing its previous peak of $3,885, which it struck on Tuesday.
Despite these high prices, users of the metal have little choice but to continue buying, analysts said.
“There is a fair way to go before they will even look at making a change,” BNP Paribas analyst David Thurtell said........................ As I mentioned in previous post great timing by Management to increase productivity ......
HMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
