Lead inventories on LME hit 11-year high amid contract expiries, large short positions

Lead inventories at LME warehouses have surged to 276,250 t, an 11-year high, last seen in Mar'13, driven by a 49% increase in just 2 days. This sudden spike is linked to imminent Nov'24 contract expiries and large short positions and has resulted in strategic accumulation in the new Singapore warehouse. This shift in inventory storage is expected to influence global supply chains and business strategies.