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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.
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Tags: Commodities
