Commodity market report
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27 Pages

Global lead short-term outlook April 2016


Global lead short-term outlook April 2016

Report summary

Lead resisted most of the pressure from other metals to show little change during April. This should help lead deflect the worst effects of an expected price correction across base metals as values overtook fundamentals. Sharp changes in both deliveries into LME stocks and cancelled warrants failed to produce a reaction, with lead just 1% higher over the month at $1735/t. Global terms for concentrates are still not confirmed although some TCs have been settled for Asian and European contracts.

What's included?

This report includes 2 file(s)

  • Global lead short-term outlook April 2016 PDF - 473.19 KB 27 Pages, 12 Tables, 9 Figures
  • Data tables lead STO April 2016.xls XLS - 262.50 KB

Description

As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Lead Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
    • Lead key forecasts
  • Supply-demand balances
    • Refined lead premia and scrap prices
    • Price forecasts and global quarterly supply/demand balances (kt)
  • Demand
    • China
    • US
    • Europe
      • Global quarterly refined lead consumption (kt)
  • Supply
    • Raw materials market
      • Smelter and refinery news
      • Mine production news

In this report there are 21 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Supply-demand balances
    • Lead takes a middle course, is least affected by price pressures
    • Much weaker dollar prevents further slide in prices as metals price rally fades
    • Year to date progress reinforces lead's under-performance and limited price variance
    • Money Managers Commitment of Traders Report data shows waning interest in lead for the moment
    • Sustained contango period mostly sustained but price spreads close
    • Overall LME stocks increase but cancelled warrants jump substantially
    • Steady stock outflow reduces, large inflows boost total tonnage in LME warehouses
    • Supply-demand balances: Table 1
    • Supply-demand balances: Table 2
  • Demand
    • Demand: Table 1
  • Supply
    • Supply: Table 1
    • Q1 2016 Chinese concentrate imports 48% lower than in Q4 2015
    • The difference in Chinese utilisation rates at primary and secondary smelters has closed in March
    • Lead mine capability, adjustment and production - ROW, China and Global (kt Pb)
    • Global refined lead consumption (kt Pb)
    • Global lead mine production (Lead in concentrate)
    • Global refined lead production (kt Pb)
    • Global primary and secondary refined lead production (kt Pb)
    • Lead stocks, prices and premia
    • Global lead supply and demand (kt)
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