Lead Prices are Based on Commodities Trading.
Nuclead’s prices for lead products are determined by the price for lead as determined on the London Metals Exchange plus the cost of any manufacturing process required for the finished goods.
Nuclead monitors market conditions for lead and other metal prices and provides periodic market update alerts to subscribers, this is a free service.
If you are interested in receiving market updates please please click this link to sign up for the lead prices update.
Lead metal is a commodity and hence lead prices are set based on market supply and demand. Lead prices are universal and fluctuate daily as determined by trading on the London Metals Exchange.
A good is determined to be a commodity when it can be supplied to meet a demand without differentiation. In others words lead metal of certain purity can be used to satisfy demand regardless of its specific source, for example the mine from which it was produced does not affect the price of the lead. Commodities such as this, whose individual units are capable of mutual substitution, are referred to as “fungible.”
One of the characteristics of a commodity good is that its price is determined as a function of its market as a whole. Lead prices, represent a well-established physical commodity and hence has an actively traded spot and derivative market. Hard commodities such as lead are ones that are extracted through mining.
Today commodity trading takes place in trading exchanges which provide an efficient method to reach agreement on the current and future value of the commodity, based on supply and demand. The modern commodity markets have their roots in the trading of agricultural products.
The London Metals Exchange (originally founded as the London Metals Market and Exchange Company in 1877) can trace its founding back to the opening of the Royal Exchange in 1571. The first metal traded was copper and then lead and zinc. Aluminum was added in 1978, nickel in 1979, steel in 2008 and plastics began trading in 2005. Over $10 Trillion in value is traded annually.
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