Research

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

Change font size:   

September 2019 | Base Metals


Lead: Moving into a bull market


Lead prices are up 19.6% from their May lows and although they still haven’t convincingly cleared stubborn resistance that has been capping the market around $2,100 per tonne for months, they have essentially complied s with technical analysts’ 20% criteria for a bull market, which in itself could attract more buying interest. The danger is that with exchange inventories so low, there is not much of a cushion should a more optimistic market feel the need to restock.

Prices push through $2,100 per tonne resistance once again... Amid some easing in US-China trade tensions, LME three-month lead prices held up well last week and have now gained 19.6% from the May lows of $1,773.50 per tonne to the latest highs of $2,121 per tonne last week. So lead all but complies with technical analysts’ 20% criteria for a bull market. ...but will they break higher this time? We should be careful though as lead has edged above the $2,100 per tonne level on four previous occasions since July, only to have been turned back by overhead resistance here, so will...

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?