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Lead’s recovery from nine month lows continued on Tuesday with benchmark prices on the London Metal Exchange rising 1.5% to $2,380 a tonne ($1.08 a pound).

“Lead from a raw materials side is probably the tightest commodity market out there. There has been a big clamp down on Chinese private sector mining. China is around 60 percent of primary lead supply,” BMO Capital Markets analyst Colin Hamilton told Reuters.

Prices were likely to hit $2,640 in the third quarter according to BMO marking the investment bank as one of the most bullish on the outlook for the metal, mainly used in batteries. A FocusEconomics report published on Tuesday shows consensus forecast among analysts of $2,428 a tonne in Q3. Lead peaked in January this year at $2,643.

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Name Last Change
DOW 24811.80 0.30%
S&P 500 2727.76 0.20%
NASDAQ 7424.43 0.02%
TSX 16113.62 0.13%
TSX-V 780.58 0.00%

Resource Commodities

Name Last Change
Gold 1306.56 0.13%
Silver 16.69 0.12%
Copper 3.09 0.030
Platinum 912.50 0.21%
Oil 70.71 1.60%
Natural Gas 2.94 0.88%
Uranium 22.88 0.00%
Zinc 1.37 0.00%


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