Commodity Market Report

Global lead short-term outlook May 2023

Get this report*


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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

Lead's relative stability related to the importance of recycling and the replacement automotive battery sector has been demonstrated during May. The wider slide in metal prices on the back of macroeconomic bearishness took lead with it, but lead's losses were far more modest, particularly in local currency terms. The SHFE/LME arbitrage continues to point to relative weakness in China and exported metal has led to inflows at LME warehouses in Asia.

Table of contents

  • Supply Demand Balance
  • Global
  • US
  • China
  • Japan
  • India
    • Concentrate market
    • Mines news
    • Corporate activity
    • Smelter news

Tables and charts

This report includes 18 images and tables including:

  • Steady lead stays in th emiddle of the pack
  • Volatile zinc swings the Zn:Pb ratio
  • Widespread Chinese refined exports continue in 2023 Q1
  • Refined Lead Premia and Scrap Prices
  • Price forecasts and global quarterly supply/demand balances (kt)
  • Quarterly Consumption
  • Concentrate market TCs
  • April's imports remain at a seasonally-adjusted annual rate slightly higher than the total for 2022
  • Acid prices in May have slipped to levels that risk jeopardising the fortunes of Chinese smelters
  • TCs have been slow to lift despite a persistent LME/SHE arbitrage that widened further in April
  • 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)
  • 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 2023

    PDF 1009.40 KB