Commodity Market Report

Global lead short-term outlook September 2021

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As the technicalities causing the recent cash price squeeze unravelled, it was to be expected that the elevated lead price would take a tumble. But this was limited to a plummet rather than a collapse, and the three-month price is now falling into step with the rest of the LME base metals. Globally, supply appears balanced, masking the imbalance between Asia versus North America and Europe. This has helped maintain the cash to three-month price spread in a small backwardation, although far short of the record levels seen a month ago.

Table of contents

  • China
  • Europe
  • Raw materials market
  • Mine production news
  • Smelter production news

Tables and charts

This report includes 11 images and tables including:

  • Global quarterly refined lead consumption (kt)
  • SHFE-LME arbitrage is much less negative than it was a month ago
  • 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

This report contains:

  • Document

    Global lead short-term outlook September 2021

    PDF 1.09 MB