Commodity market report
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30 Pages

Global lead short-term outlook August 2017


Global lead short-term outlook August 2017

Report summary

Lead proved to be a laggard during August finishing up 3.3% at $2373/t, barely gaining value and being left behind by the other base metals. Mostly trading in a narrow range, it did manage a one-day flirtation with an eight-month price high, but this lasted just one day. The trigger for this price spike was the UN sanctions again North Korea cutting lead concentrate supplies to China in a time when the latter is desperate for supply. Worries also persist over global refined metal supply with exchange stocks falling further and supply of lead scrap tightening even more as peak demand season approaches.

What's included?

This report includes 2 file(s)

  • Global lead short-term outlook August 2017 PDF - 504.36 KB 30 Pages, 12 Tables, 10 Figures
  • Data tables lead STO August 2017.xls XLS - 293.00 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
  • Demand
    • China
    • North America
    • Europe
    • Japan
    • Korea
      • Global quarterly refined lead consumption (kt)
  • Supply
    • Raw materials market
      • Concentrate market TCs
    • Mine production news
    • Smelter production news
      • 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)

In this report there are 22 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Supply-demand balances
    • Lead price little changed as other LME metals gain value
    • Some decoupling of lead price and dollar value as supply concerns prompt small spike
    • Tightening lead mine supply has increased Chinese imports of North Korean concentrates
    • Price spread contango remains steady
    • Falling SHFE stocks points to refined lead supply worries
    • Chinese refined lead imports now running at annualised 100kt
    • Total LME lead stocks stabilise for the moment, but cancelled warrants increase
    • Outflows of LME lead from warehouses reduces in quantity and frequency
    • Supply-demand balances: Table 1
    • Supply-demand balances: Table 2
  • Demand
    • Chinese car production back into year-on-year growth
    • Demand: Table 1
  • Supply
    • Supply: Table 1
    • Supply: Image 1
    • Lead mine capability, adjustment and production - ROW, China and Global (kt Pb)
    • Supply: Table 3
    • Supply: Table 4
    • Supply: Table 5
    • Supply: Table 6
    • Supply: Table 7
    • Supply: Table 8
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