Research

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

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January 2019 | Base Metals


Lead: Waiting for better China sentiment


Lead prices started to recover last week, rising off a low of $1,932.50 per tonne on January 3, but resistance was evident above $2,000 per tonne. With prices now in the middle of the range seen since August, it looks as though they will remain stuck until a clear directional catalyst emerges. That might require more clarity about Chinese stimulus measures or any US/China trade deal.

First annual decline in China’s auto sales since 1992 Provisional full-year data suggests that Chinese auto sales fell 5.8% to 22.35 million units in 2018, according to China Passenger Car Association. The trade war with the US hit the market hard in H2 after sales growth turned negative since June, including a 19% year-on-year fall in December. Car ownership restrictions in major cities, the rise in prices of imported cars, due to tariffs, the weaker yuan and general slower economic growth have all...

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