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

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October 2019 | Base Metals


Lead: Rally gaining momentum


Lead prices have broken out of the resistance area around $2,120 per tonne on the charts and are climbing towards $2,200 per tonne. This seems a timely move as the approach of the winter months in the northern hemisphere tends to see battery manufacturers increase output to build up inventory for the colder months. Low and falling exchange stocks, and a backwardated price curve, support the view that the market is tight.

Resistance above $2,100 per tonne finally overcome Lead prices have broken out of the resistance area above $2,100 per tonne on the charts and are climbing towards $2,200 per tonne. This seems a timely move as the approach of the winter months in the northern hemisphere tends to see battery manufacturers increase output to build up inventory for the colder months. Low and falling exchange stocks, and a backwardated price curve, support the view that the market is tight. Any positive trade development could see market tighten up significantly Against a backdrop of disrupted supply at mines (Peñasquito and San...

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