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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2019 | Base Metals


Lead: Slow start, but plenty of promise


Lead prices are stuck in low ground around the $1,950 per tonne level, some $100 per tonne below where they ended 2018. While the other base metals saw fresh strength at the end of last week, lead prices were left behind. But solid fundamentals in the lead market are expected to provide support and underpin higher prices as the year progresses.

Lead market remained in a supply deficit in Q4 The lead market was in a supply deficit of 25,600 tonnes in October and a deficit of 94,000 tonnes in the first ten months of the year, according to the latest ILZSG data. Global mine production fell 2.9% to 3.692 million tonnes, with output lower in China (59,000 tonnes), the USA (29,000 tonnes), Peru (17,000 tonnes) and Australia (15,000 tonnes). Cuba’s output climbed to 17,000 tonnes from 1,000 tonnes, highlighting the start-up...

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