Commodity Market Report

Global lead short-term outlook May 2021

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31 May 2021

Global lead short-term outlook May 2021

Report summary

Despite being a mid-pack runner among the base metal prices for most of the month, lead still managed to reach a 16-month high and finish May level with frontrunners zinc and copper in price performance. Copper hitting a new record high pulled the rest of the LME complex higher, assisted by a weaker dollar. But without any apparent supportive fundamentals, lead still finished the month strongly. This hints at potential activity, yet to see the light of day, pushing up the lead price by one or more market actors. One of the few intrinsic price positives for lead was continuing concentrate tightness, which saw TCs tumble further with little prospect of this situation easing.

Table of contents

  • Automotive
  • Technical developments
  • China
  • India
  • US
  • Europe
  • Raw materials market
  • Mine production news
  • Smelter production news

Tables and charts

This report includes 11 images and tables including:

  • Chinese automotive battery exports boom from the time lockdowns eased in Western countries
  • Industrial battery exports were at typical levels with Western demand focused on auto replacement
  • 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

    Global lead short-term outlook May 2021

    PDF 1.03 MB