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Industrial Lead Hits Another Record

From Staff Reports

In yet another example of the impact that demand in China is having on global commodity prices, industrial-grade lead soared to yet another record yesterday, and according to some estimates has climbed by nearly 90% so far this year. The heavy metal, especially useful in the production of the power-storage cells for the batteries used in cars, trucks and heavy-construction equipment, spiked 2% in trading yesterday, closing at $3,090 per ton, though it traded as high as $3,125, according to reports. In addition to the high demand, a key mine remains shuttered because of environmental issues – with both factors helping to drive prices skyward.

July 17th, 2007

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This entry was posted on Tuesday, July 17th, 2007 at 4:05 pm and is filed under Commodities, Global Investing, Home Page, Investing In China, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. Due to the amount of comments we receive Money Morning will not be able to respond to all questions. If you have not already registered to leave a comment, once doing so you will receive Money Morning's Daily Email. Responses are currently closed, but you can trackback from your own site.