Global lead short-term outlook August 2017
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.