Commodity Market Report

Global lead short-term outlook June 2018

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29 June 2018

Global lead short-term outlook June 2018

Report summary

Lead headed the base metals' price performance table in a month where all lost value. Global worries over trade disputes and retaliatory tariffs pulled down on metal prices, with the added weight of a strengthening dollar dragging down on confidence and sentiment. The positive arbitrage between Chinese and LME prices remained, supported by supply anxieties and heightened by new environmental inspections. Later in the month, these concerns eased, with cancelled LME material placed back on warrant and SHFE stocks stabilising.

Table of contents

    • Lead key forecasts
  • Supply-demand balances
    • China
    • US
    • Europe
    • India
      • Global quarterly refined lead consumption (kt)
    • Raw materials market
      • Importing lead concentrate into China became somewhat less attractive in late June

Tables and charts

This report includes 17 images and tables including:

  • Lead price tops the base metals pack, but all are lower
  • LME and SHFE refined lead prices follow very similar tracks
  • Total SHFE stocks decrease further but higher live warrants hint that refined squeeze is over
  • Supply-demand balances: Table 1
  • Supply-demand balances: Table 2
  • Executive summary: Table 1
  • China's monthly lead concentrate imports were 20% higher in April-May than they were in Q1 2018
  • Demand: Table 1
  • Supply: Image 2
  • Concentrate market TCs
  • Lead mine capability, market adjustment and production (kt Pb)
  • Supply: Table 3
  • Supply: Table 4
  • Supply: Table 5
  • Supply: Table 6
  • Supply: Table 7
  • Supply: Table 8

What's included

This report contains:

  • Document

    Data tables lead STO June 2018.xls

    XLS 241.00 KB

  • Document

    Global lead short-term outlook June 2018

    PDF 510.95 KB

  • Document

    Global lead short-term outlook June 2018

    ZIP 576.35 KB

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