Despite hitting a three-month peak mid month, lead failed to sustain the stellar price rise from the previous month, losing 3.4% of its value in February to close at $2272/t, making it the worst performer among the base metals. With the industry currently transitioning out of the winter peak demand, signals still reinforce the fundamentals pointing to sustained higher prices when raw materials shortages eventually manifest as a pinch on refined lead availability. For the moment, European secondary smelters are enjoying adequate supply of scrap but North American recyclers are suffering from high prices and scarce supply exacerbated by Asian buyers exporting scrap from the US East Coast. The appearance of calm and inactivity in stock movements could well prelude significant movements of material to off-warrant storage in anticipation of prices escalating as material shortages hit.
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Global lead short-term outlook February 2017 PDF - 466.39 KB 28 Pages, 12 Tables, 9 Figures
Data tables lead STO February 2017.xls XLS - 263.00 KB
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.
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Commodity market report | Feb 2017
Global lead short-term outlook February 2017
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