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Gold/Mining/Energy : Breakwater Resources (T.BWR) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (625)	5/12/1999 7:53:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 962

Lead Rises to 2-Week High on Signs of Asian Demand (Update1) (Closes LME prices.) London, May 12 (Bloomberg) -- Lead rose 0.8 percent, to its highest price in almost 2 weeks, on expectations that demand from electronics manufacturers, especially in Asia, will grow this year, eroding available supplies. The latest sign of rising demand for lead used as solder, the second-largest application, came when Japan reported domestic shipments of personal computers rose 16 percent in the first quarter. Rising prices of other metals, such as copper and zinc, on expectations of stronger economic growth in Korea and Taiwan, are also raising hopes for lead, traders said. Lead's ''fundamentals remain positive with only a small surplus expected this year,'' said Ted Arnold, minerals strategist at Prudential-Bache International Ltd. ''On the plus side is a noticeable increase in demand in Asia, and in Korea and Taiwan in particular.'' Lead for delivery in three months on the London Metal Exchange, the benchmark contract, rose $4 to $549 a metric ton, its highest price since May 3. Prices are up 20 percent since falling to $460 a ton on Jan. 5, the lowest level in 4 1/2 years. Demand for lead, used mainly to make rechargeable car batteries, will increase 2.3 percent to 6.12 million tons in 1999, after remaining virtually unchanged for two years, the International Lead and Zinc Study Group said last month. Refined lead output, meanwhile, will rise 3.3 percent to 6.16 million tons, largely because of expansions in Canada and Australia, ILZSG said. --Andy Webb-Vidal in the London newsroom (44-171) 330 7743/tc/jac