Commodity Market Report

Global lead short-term outlook February 2020

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28 February 2020

Global lead short-term outlook February 2020

Report summary

The repercussions of the coronavirus outbreak dominated in February as the lead market pondered over the short- and long-term effects. A largely technical squeeze on lead's cash price pushed the existing backwardation up to a nine-year high as liquidity for nearby dates evaporated. Demand sectors were feeling the effects of China's immobilisation as global automotive supply chain disruption impacted OE battery demand. These was also much to consider in concentrate markets. The extended Chinese New Year holiday period saw the seasonal recovery in concentrate supply and demand absent this year, with logistical bottlenecks trapping material in port. Upward pressure on TCs has increased due to reduced profitability of lead-zinc mines from falling zinc prices.

Table of contents

  • Global
  • China
  • Europe
  • Raw materials market
  • Mine production news
  • Smelter production news

Tables and charts

This report includes 10 images and tables including:

  • Huge drop-off in movement of people as coronavirus restricts movement
  • Global quarterly refined lead consumption (kt)
  • Concentrate market TCs
  • Lead mine capability, market adjustment and production (kt Pb)
  • 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)

What's included

This report contains:

  • Document

    Data_tables_lead_STO_February_2020.xls

    XLS 248.50 KB

  • Document

    Global lead short-term outlook February 2020

    ZIP 1.13 MB

  • Document

    Global lead short-term outlook February 2020

    ZIP 1.13 MB

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