(Updates with comment from the LME in the third paragraph).
April 20 (Bloomberg) - an unidentified company has potential own place to 89% of the lead in warehouses monitored by the London Metal Exchange, a position 697 million dollars to the price of today, issuance of exchange data.The so-called warrants Tom banding report today for April 18 indicates a dominant position from 80 to 89%, the most since February 11, according to the LME. The report is used by the LME to apply the guidelines require the owner to pay metal to fixed rate. "Clearly, there is now a dominant lead but we have our methodology of ready orientation which is what we use to deal with this situation, Chris Evans, responsible for business development at the LME said in London. "If there is a dominant on the market and someone must the metal then ready orientation can be invoked to ensure that metal is provided by the dominant on the market at a premium limited."Price of lead, used in plumbing, climbed and car batteries and a maximum of two years this month after producer Ivernia Inc. has discontinued its Magellan Australia West mine and Mitsubishi Materials Corp. said that it would boost production to meet increased demand for batteries after only 11 earthquake March in Japan.Lead for the delivery of the last three months have increased by $38, or 1.5%, to integrated $ per metric ton by 12: 00 pm on the LME. Prices have increased to $2,904 tonne on 11 April, the highest price since April 2008.Inventories of lead stand at 301,950 metric tonnes, according to the LME. Prices have doubled since the end of 2008 on the application of China, the largest buyer of the world.Costs to borrow lead for a day, also known as the tom-next propagation, were $4 today.-Editors: Claudia Carpenter, Sharon Lindores
To contact the reporter on this story: Agnieszka Troszkiewicz at the atroszkiewic@bloomberg.net London
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net
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