Commodity Market Report

Global lead short-term outlook May 2022

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A steady downwards price slide characterised the first half of lead's price performance in May, after which the decline was halted but with a more choppy direction of travel for the remainder of the month. At one point, the LME lead price managed to hit a one-year low, dipping under $2100/t, before regaining some ground to end May at $2175/t, 4.1% down overall. Lead markets were pushed around by external factors, without lead's fundamentals exerting any apparent influence on its price. Spot premia for refined metal and scrap battery prices remained stable from April's levels. Spot TCs saw a little more movement, influenced by the shrinking negative SHFE/LME arbitrage. By the end of the month, they settled around $145/t CIF MCP for low silver concentrates.

Table of contents

  • China
  • Asia
    • Raw materials market
    • Mine production
  • Mine News
  • Project news
  • Corporate news
  • Smelter production
  • Smelter and refinery news

Tables and charts

This report includes 11 images and tables including:

  • Global quarterly refined lead consumption (kt)
  • 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)
  • Negative arbitrage reduced in May allowing spot TCs to fall
  • General relationship of a low or negative arb and higher TC often prevails
  • Concentrate market TCs
  • Lead mine capability, market adjustment and production (kt Pb)

What's included

This report contains:

  • Document

    Global lead short-term outlook May 2022

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