Commodity Market Report
Global lead short-term outlook July 2020
Report summary
Lead gained value but performed poorly relative to the basket of LME base metals. A weakening US dollar promoted a rally in metal prices but lead lost momentum after 55 kt were added to LME stocks and SHFE stocks increased by a similar proportion. Pulling down on price during the month were growing geopolitical tensions, particularly between the US and China, and spikes in new coronavirus infections in several countries around the world. This depressed hopes of recovering metals demand, although offset somewhat by a weakening US dollar rate. Spot TCs for good concentrates stayed close to their lows with demand remaining strong, but TCs for less appealing concentrates have started to creep higher.
Table of contents
- Renewables
- China
- US
- Europe
- Raw materials market
- Mine production news
- Smelter production news
Tables and charts
This report includes 11 images and tables including:
- Global quarterly refined lead consumption (kt)
- Pb-Ag concentrate values have been lifted by higher silver prices in July
- 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:
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