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April 2019 | Base Metals


Lead: Sentiment in the doldrums


For most base metals, prices are holding up near their recent high ground, but that is not the case for lead, where prices have dropped below $2,000 per tonne and are trading some 2.8% below the average for the year. Better Chinese economic data, robust US total vehicles sales for March and a strong US employment report have failed to provide any improvement in lead prices. We expect a US-China trade deal will do the trick though.

Glass half empty for lead, while other metals see a glass half-full For most base metals, prices are holding up near their recent high ground, but that is not the case for lead, where prices have dropped below $2,000 per tonne and are trading some 2.8% below the average for the year. Better Chinese economic data, robust US total vehicles sales for March and a strong US employment report have failed to provide any improvement in lead prices. We expect a US-China trade deal will do the trick though. Lead market looking well balanced given lack of activity With the lead...

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