Commodity Market Report
Global lead short-term outlook February 2024
Report summary
Poor demand at Chinese New year coincided with LME stocks surging 71kt in February to peak at 180kt, the highest since May 2017. Stocks have since fallen and are ending the month nearer 170kt. Prices bottomed out at US$2010 at mid-month but an exchange rate-driven price recovery had started a few days before stocks peaked. Lead is ending February down on the start of the month, close to the level at the end of February last year when LME stocks were only 25kt. Lead consumption is forecast to increase to 2026 at a CAGR of 0.9%, equal to the estimated rise for 2023. We expect production to exceed consumption from 2024, and prices to remain under downward pressure in 2025.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global lead short-term outlook February 2019
The middling performance of lead disguised market turbulence as opposing forces tugged at the lead price while supply anxieties surfaced.
$5,000
Commodity Market Report
Global lead short-term outlook March 2024
The increase in LME stocks in March has been a bearish optic but data do not point to a sudden deterioration in lead's fundamentals.
$5,000
Commodity Market Report
Global lead short-term outlook February 2020
Covid-19 effects were the main focus, plus a squeeze pushing up the cash price and pressure on TCs from deteriorating mine profitability.
$5,000