Lead Price OutlookLead prices remained relatively volatile in November, trading in the range of USD 1,850 to USD 2,000 throughout the month. On 30 November, the spot price closed the day at USD 1,961 per metric ton, which was 2.1% higher than on the same day a month earlier. However, the price was down 21.1% on a year-to-date basis and was 20.6% lower than on the same day last year. Lead prices slipped at the beginning of November after remaining largely stable in the weeks prior, against the backdrop of uncertainty surrounding the U.S. midterm elections. Nevertheless, prices remained broadly stable hovering around the USD 1,950 mark in the following weeks, amid reports of easing trade tensions between the U.S. and China which offset downward pressure from a stronger U.S. dollar after the midterms. Sluggish growth in China—the world’s largest consumer of lead—weighed on prices in the second half of the month, boding ill for the base metal’s short-term demand outlook. This was also highlighted by recent surveys, which signals a sustained deceleration in manufacturing output in Chinese factories. Meanwhile, lead prices shot up on 30 November on hopes that the U.S. and China would make progress on reducing trade tensions, after Washington threatened to raise tariffs on USD 200 billion of Chinese imports from 11% to 25%.
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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