Global lead short-term outlook June 2021 Report

Commodity Market Report 30 June 2021

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Report summary

Lead was at or near the front of the base metals on price performance during June. But rumours of problems at a major primary smelter right at the end of the month sparked a sharp price spike and thrust lead well ahead of the pack. No substance emerged to support the rumour, but nor has the possibility been eliminated beyond doubt yet. The strong and swift market reaction pushed the lead price up to a three-year high, breaking through the $2300/t barrier. The lead price also survived negative influences pulling down other metal prices to gain 6.3% of value during June. New mine supply was confirmed this month, but will not make a meaningful contribution until 2024. In the meantime, concentrates will continue to be tight and TCs under pressure.

China
India
Raw materials market
Mine production news
Smelter production news

Tables and charts

This report includes 12 images and tables including:

Vehicle production in China wanes as semiconductor shortage bites output
Global quarterly refined lead consumption (kt)
LME prices have been greater than SHFE prices during May and June

Sulphuric acid prices have surged alongside the sharp fall in spot TCs in recent months
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)