Update: Market Chatter: Glencore Eyes Large Withdrawal of Lead from London Metal Exchange Warehouses

03:14 AM EDT, 07/23/2026 (MT Newswires) -- (Updates to add Glencore's statement) Glencore (GLEN.L, GLN.JO) intends to pull out 30,000 metric tons of lead from London Metal Exchange warehouses by canceling lead warrants amid an increase in lead inventories, Reuters reported Wednesday, citing two industry sources. The mining giant's reason for withdrawing the lead is unknown, but sources noted the possibility of the metal being moved to a different warehouse for so-called rent deals or being supplied to customers, according to the news outlet. Glencore declined to comment when reached by MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)