Commodity Market Report

Global lead short-term outlook April 2021

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30 April 2021

Global lead short-term outlook April 2021

Report summary

Continuity and conformity were the hallmarks of lead's performance in April. Continuity came from no meaningful changes in the supply-demand balance or demand picture, while conformity came from lead doing very little other than tracking the dollar rate and being a rather middling price performer within the base metals pack. The 9% gain in value this month, finishing above the $2100/t barrier, was very much in line with the general trend of the key LME metals. Supply-side, annual concentrate contract terms have at last been settled. Smelters were forced to concede half their 2020 TC gains but held on to RC levels. However, in reality, they really haven't lost out thanks to higher metal prices.

Table of contents

  • Automotive
  • Energy storage systems
  • China
  • US
  • Europe
  • Raw materials market
  • Mine production news
  • Smelter production news

Tables and charts

This report includes 11 images and tables including:

  • Global quarterly refined lead consumption (kt)
  • Smelters' share of payable metal has declined as lead/silver prices have recovered since a year ago
  • Smelters' absolute revenues are unchanged from a year ago despite cut in annual contract TC
  • Concentrate market TCs
  • Lead mine capability, market adjustment and production (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)

What's included

This report contains:

  • Document

    Global lead short-term outlook April 2021

    PDF 1.06 MB