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

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March 2020 | Base Metals

Lead: Further demand downgrades

After sharp drops in equity indices and metal prices at the start of last week, lead prices did start to rebound and consolidate, ending the week at $1,635 per tonne, 4.1% off Wednesday’s low of $1,570 per tonne. From the pre-virus high of $2,038 to last week’s low, lead had fallen 23%. But we do not think prices have bottomed yet and expect more volatility ahead. We have also made further demand downgrades this week which have enlarged the global oversupply expected in 2020.

Unprecedented demand shock Attempts to...


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