Mind the gap between sister metals zinc and lead

MINING.COM | The London Metal Exchange (LME) zinc price last week touched a high of $2,596.50 per tonne, the galvanising metal’s strongest performance since May 2019. The LME lead price, by contrast, has been moving in the opposite direction and is now the clear under-performer of the London base metals market. These divergent fortunes are not unrelated. The relative value trade between the two sister metals – so-called because they are almost always found in the same geological deposits – is a perennial favourite among traders.


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