Market surplus continues to affect lead
Tue, Sep 9, 2008
Lead Investing News reports lead spot prices have declined 26 per cent as a result of a long-term market surplus.
The impact of this surplus is manifesting itself in myriad forms - mine closures, decreased production, and faltering stock prices. This week, Australian mining company Intec decided to convert its Tasmanian Hellyer Zinc Mine to maintenance only, resulting in job losses for all but a few essential employees. It cannot run the mine at a profit in light of decreasing demand and high production costs.
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Tags: base metals, costs, high production, Lead, lead futures, lead prices, lead spot prices, production, surplus, Tasmanian Hellyer Zinc Mine
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