SKU: 155438
Author: Wood Mackenzie

Commodity Market Report 30 June 2023

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

The suspension of operations at Peñasquito appears to have provided support to the rally in lead prices in June. Such fundamental support is justified because the lead concentrate market is already tight. Unlike smelter cuts, which can merely result in raw materials being diverted elsewhere, Peñasquito 's lost output will result one-for-one in reduced output of refined metal. Strong OE automotive figures were also supportive on the demand side of lead's market fundamentals. However, the wider macroeconomic picture has been less robust recently, particularly in China.

Prices
Asia.
India.
North America.
Europe.
- Concentrate market
- Mines news
- Corporate activity
- Smelter news

Tables and charts

This report includes the following images and tables:

Lead % price fluctuation itghter than most metals
Refined Lead Premia and Scrap Prices
Price forecasts and global quarterly supply/demand balances (kt)

Quarterly Consumption
Concentrate market TCs
TCs lifted only a little in June despite the persistent LME/SHE arbitrage widening significantly
Acid prices slipped further in June and risked jeopardising the fortunes of Chinese smelters
January-May's imports were 20% higher than in 2022 at a seasonally-adjusted annual rate
Lead mine capability, market adjustment and production (kt Pb)
Global refined lead consumption (kt Pb)
Global lead mine production (lead in concentrate, kt Pb)
Global refined lead production (kt Pb)
3 more item(s)...