About this episode
Leads Surge: From Power Source to Financial Instrument
Lead, the old-school battery metal, is experiencing a boom in London Metal Exchange warehouses, with inventory reaching a fourteen-year high of 283,000 metric tons. Prices have dropped by 5% since January, but the real play is in the steep contango in futures, offering a 7% return over two years. Traders and banks are capitalizing on this, shuffling metal in and out for cheap rents, especially in Singapore. Despite slow usage growth, lead is eyeing grid storage as a cheap backup for lithium shortages during the EV surge.
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