Research

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

Change font size:   

February 2019 | Base Metals


Lead: Base in place, higher prices coming


Three-month LME lead prices have reached a high of $2,135.50 per tonne, up 13.8% since the October low at $1,876 per tonne. The recent performance now suggests a large base is in place, and this is expected to support higher prices, which in turn would then reflect the tighter fundamentals more accurately.

Prices extend gains to levels not seen since August 2018 Three-month LME lead prices have now reached a high of $2,135.50 per tonne, up 13.8% since the October low at $1,876 per tonne. A large base is in place and this is expected to support higher prices, which in turn would then reflect the tighter fundamentals more accurately. Exchange stocks insufficient to cover 1% of annual demand... So far this year, LME lead stocks have fallen 35,625 tonnes to 71,750 tonnes, a drop of 33% from 107,375 tonnes at end-2018. Available warrants stand at 64,875...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?