Lead bore the brunt of another bearish week for the base metal complex, ending down6.1 percent compared with an average decline of 3.5 percent. Negative sentiment sawlead reverse the previous two-week’s gains, which saw lead recover from below $1,700/tonne to a peak of $1,881/tonne. The 3-month price tested back to a low of $1,700/tonneFriday, but appears to be consolidating so far this week, as markets absorb weakerthan-expected Chinese manufacturing data for July, while pausing ahead of the JulyFOMC (Federal Open Market Committee) meeting, as markets await further detailsregarding plans for monetary policy normalisation.
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