Global lead short-term outlook November 2018
A less turbulent month for lead ended with the price finishing where it started, at $1933/t. It did little other than track the dollar rate throughout November, except to briefly break free on supply worries after potential production cuts at Nyrstar's key Port Pirie smelter. LME lead stocks fell continuously, with no new deliveries into warehouses, reaching their lowest since 2009. Improved mine production offers the hope to smelters of improved TCs for next year with adequate capacity to treat the additional volume.