Commodity Market Report

Global lead short-term outlook October 2019

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26 October 2019

Global lead short-term outlook October 2019

Report summary

A robust price performance from lead was largely sustained by continuing supply concerns as the lead industry hits its peak demand season. A backwardation settled over the cash to three-month spread as the market cautiously eyed developments at Port Pirie and the increasingly negative LME-SHFE arbitrage stifling concentrate trade. The has forced Chinese smelters to force TCs much higher this month.

Table of contents

  • China
  • India
  • Russia
  • Europe
  • Raw materials market
  • Mine production news

Tables and charts

This report includes 13 images and tables including:

  • Global quarterly refined lead consumption (kt)
  • Customs data suggest that all of Port Pirie's displaced local feed has been exported to China
  • The SHFE/LME arbitrage value in concentrate trade turned negative in October
  • Spot TCs would have to increase in October in order to maintain Chinese buyers' spot TC plus SHFE/LME arbitrage value
  • Seasonal shipments of Red Dog's concentrate became evident in China's imports in September
  • 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

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