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Commodity Market Report

Global lead short-term outlook August 2022

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31 August 2022

Global lead short-term outlook August 2022

Report summary

Efforts to push the lead price lower in early August failed. The rallying of the wider base metals complex amid signs that US inflation may be easing and renewed efforts in China to stimulate growth, boosted sentiment and forced shorts to cover. This helped to propel the lead price upwards from $2022/t at the end of July to as high as $2192/t by the middle of the month, its highest level since mid-June.

Table of contents

  • Supply-demand balances
    • Europe
    • China
    • China Concentrate markets
    • Current mine developments
    • Project News
    • Corporate Activity
    • Smelter and refinery developments

Tables and charts

This report includes 15 images and tables including:

  • Price fall eliminates backwardation
  • Improved sentiment in first half of August boosts metal prices
  • Refined lead premia and scrap prices
  • Price forecasts and global quarterly supply/demand balances (kt)
  • Global quarterly refined lead consumption (kt)
  • Closure of negative arbitrage in July was short-lived, but so was the return of a negative arbitrage in August
  • Concentrate market TCs
  • Sharp fall in China's sulphuric acid price in July-August should be supportive of spot TCs
  • 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 August 2022

    PDF 947.70 KB