Lead higher on data, new export taxes in China

Metals prices were mixed again on the session. Most base metals saw prices climb, but nickel dropped again, by 2.7 percent to $36,500 per tonne. Zinc prices were just slightly higher, to $3,620 per tonne on the news that there was a supply deficit in the metal in April, or the first time since October of last year. Copper was 1.4 percent higher to $7,530 per tonne as Latin American strike threats continue.

Lead added 4.8 percent to $2,515 per tonne as markets tightened and China raised export taxes. The price of lead was also supported by new figures that had production up by 1 percent in the first four months of the year but consumption up by 3.5 percent during the same period.

Among precious metals, platinum traded even at $1,290 per troy ounce on strike threats from South Africa. Gold, meanwhile, was 0.7 percent lower, to $656.20 per troy ounce.