Commodity Market Report
Global lead short-term outlook November 2023
Report summary
Primary lead supply is not completely immune from low zinc prices. While the Middle Tennessee Mines produce no zinc, Rasp's future is now in question. However, the last month has seen significant supply-side developments in relation to the future. As its CEO was sanctioned, Ozernoye suffered a fire that is believed will have ruled in out of supplying in 2024-2025. This is yet another development that is helping keep the concentrate market tighter for longer. Traders' LME stock activity prompts brief price surge but weak fundamental demand results in prices falling and a market in contango. Global auto demand remains high but US, Europe and China adoption rates for plug-in EV growth diverge. US auto production plunges in October and while US new car registrations hold up the affect of the UAW strike are felt in lead-acid scrap demand.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global lead short-term outlook March 2024
The increase in LME stocks in March has been a bearish optic but data do not point to a sudden deterioration in lead's fundamentals.
$5,000
Commodity Market Report
Global lead short-term outlook February 2024
Poor demand at Chinese new year saw LME stocks rise to highest level since May 2017
$5,000
Commodity Market Report
Global lead short-term outlook January 2024
A further new mine delay is supportive of lead markets in 2024 but a slower secondary output will also be needed to curb metal stock rises.
$5,000
