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Lead Meaning:
In commodity market terminology, Lead refers to a malleable poor, non-ferrous metal that is considered to be one of the heavy metals. Lead is used primarily for bullets, solder, lead-acid batteries and radiation shields.

Lead Example:
Standard Lead futures contracts on Lead of 99.97% purity are traded on the London Metals exchange in lots of 25 metric tons each. The contracts are for spot, 3-month, 15-month and 27-month contracts and are quoted in U.S. dollars. The symbol for Standard Lead futures is PB.