MARKET ALERT AT 10 AM FEB 3
Canada-based lead miner Ivernia Inc. (IVW.AU)
Monday said it received approval to start shipments
of lead concentrate from a Western Australia state
after being closed due to issues over lead poisoning.
Ivernia's absence from the lead market for the past
couple of years was one of the two supportive
factors in the lead market, says UBS analyst
John Reade. Says a restart of shipments will
undermine some of this support. The other factor
- that of lower Chinese exports - will probably
continue due to shut-downs of lead-zinc mines and
smelters in the country, Reade adds. LME lead
is trading at $1,134.75/ton, +1.3% from Friday's
kerb close.
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