Commodity market report

Global lead short-term outlook December 2017

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

For further information about this report submit the form below.

Report summary

Lead had a more dynamic month in December, hitting a six-year high of $2586/t, before falling back to close the month 0.5% down on where it started at $2491/t. Concerns are deepening that the tight supply picture could become acute in the event of sudden severe weather triggering a high demand for replacement batteries. This could trigger a sharp price rally capable of surging well past December's high point. Glencore's announcement of a phased reintroduction of mothballed mine capacity took a cautious path and helped maintained composure in the markets. Producers and consumers are still mostly locked in battle over prices for long-term refined metal supply in 2018, with smelters currently edging a slight advantage. Indicative treatment charges are little changed in December but negative TCs were traded for more complex material.

What's included

This report contains

  • Document

    Data tables lead STO December 2017.xls

    XLS 293.00 KB

  • Document

    Global lead short-term outlook December 2017

    PDF 547.99 KB

  • Document

    Global lead short-term outlook December 2017

    ZIP 684.72 KB

Table of contents

Tables and charts

This report includes 23 images and tables including:


  • Lead price has a yo-yo December
  • Lead price rise exceeds influence of weaker dollar
  • Money Managers Commitments of Traders flutters at Glencore news then steadies
  • Fundamentals and profit-taking see backwardation reappear
  • Nickel aside, base metals follow similar path in second half of 2017
  • Stocks continue steady downward trend after November hiatus
  • Regular material movements in and out of LME warehouses
  • SHFE lead price resists upward pull of surging LME
  • Chinese vehicle output increases sharply as end of tax break looms
  • 4G rollout loses momentum, but 5G is coming earlier than originally planned
  • Highest monthly imports for ten years point to healthy demand and ailing supply


  • Executive summary: Table 1
  • Supply-demand balances: Table 1
  • Supply-demand balances: Table 2
  • Lead mine capability, market adjustment and production (kt Pb)
  • Demand: Table 1
  • Supply: Table 1
  • Supply: Table 3
  • Supply: Table 4
  • Global refined lead production (kt Pb)
  • Global primary and secondary refined lead production (kt Pb)
  • Supply: Table 7
  • Global lead supply and demand (kt)

You may be interested in


Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898