Lead, tin prices increase

Base metals prices were mostly lower on Tuesday.

The major exception was three-month lead, which reached a new record high again on Tuesday at $3,215 per tonne before falling back to $3,190 per tonne in late afternoon trade on the London Metal Exchange for a gain of $100.

The gain in lead prices came after a production cut following an explosion at a smelter in Missouri.

Shipments from the Herculaneum smelter won’t stop, but repairs of the damage caused by the explosion are expected to take a week to a week and a half.

Tin also gained ground, rising to $14,300 per tonne.

Copper prices were lower, dropping 1 cent to $3.55 per pound in early afternoon trade in New York and falling by 0.4 percent to $7,776 per tonne on the London Metal Exchange as inventories increased and strike news was mixed.

The price of nickel fell $155 to $31,850 per tonne in London as demand from steel mills declined and LME stockpiles remained at their highest level in over a year.

Aluminium prices were also lower, falling to $2.796 per tonne.