Commodity Market Report

Global lead short-term outlook April 2023

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Lead markets have generally consolidated during April after the wider market turmoil associated with the banking sector in March. News from the global manufacturing sector has been mixed, with strength in Europe focused on renewable energy, while Asia's strong point is telecommunications infrastructure. Stolberg's restart has not led to obvious weakness, and nor should it. Raw material availability is the key driver and recent mining news has confirmed that this is not recovering decisively. LME prices are therefore holding up, the arbitrage has widened further, and Chinese refined exports could arguably be viewed as something the ROW market is now relying on. Of course, this could quickly change if Chinese smelters opt to curtail their concentrate imports rather than continue accepting low spot TCs.

Table of contents

  • Market Developments
  • Global
  • Asia
  • India
  • China
  • Europe
  • Germany
  • Turkey
  • North America.
    • Concentrate market
    • Mines news
    • Smelter news

Tables and charts

This report includes 19 images and tables including:

  • Steady lead stays in the middle of the pack
  • Leads Backwardation back where it started the month
  • Cancelled warants fal below 10%
  • Refined Lead Premia and Scrap Prices
  • Price forecasts and global quarterly supply/demand balances (kt)
  • Battery electric vehicle share of Chinese New Energy Vehicle market
  • Quarterly Consumption
  • Acid prices since September have not made cuts in TCs more palatable
  • TCs have been slow to lift despite a persistent LME/SHE arbitrage that widened further in April
  • Concentrate market TCs
  • China's concentrate imports in March fell back from their January-February spike
  • Lead mine capability, market adjustment and production (kt Pb)
  • Global refined lead consumption (kt Pb)
  • Global lead mine production (lead in concentrate, kt Pb)
  • 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 2023

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