Lead Price OutlookLead prices were down considerably in recent weeks, losing ground year-on-year amid rising supply and growing concerns over a U.S.-China trade war. Moreover, despite solid demand-side fundamentals, anxieties persisted over the longer-term Chinese appetite for the base metal. On 3 August, the spot price closed at USD 2,115 per metric ton, which was down 11.8% from the same day a month earlier. Meanwhile, the price was 15.3% lower on a year-to-date basis and was down 11.3% from the same day last year. Despite upbeat demand in the U.S. and China, prices have been easing since June on reports of rising output in China, as well as in Turkey and Morocco. Meanwhile, geopolitical uncertainties continued to mount in recent weeks as fresh U.S. tariffs on Chinese wares came into effect, intensifying fears that tit-for-tat barbs between the world’s two largest economies would eventually depress global trade. Moreover, new anxieties hit over the long-anticipated slowdown in China as traders fretted over the possibility of weaker Chinese demand for the base metal over the medium term.
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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