Lead Price OutlookLead prices weakened in recent weeks against the backdrop of a gloomier outlook in China due to the escalating trade conflict with the United States. On 2 November, the spot price closed the day at USD 1,968 per metric ton, which was down 3.6% from the same day a month earlier. Moreover, the price was 20.8% lower on a year-to-date basis and was down 19.2% from the same day last year. The ongoing trade war between the U.S and China, which is the world’s largest consumer of lead, has likely taken a marked bite out of Chinese growth. The economy expanded at the slowest pace since 2009 in the third quarter, weighing on lead prices and casting a shadow on the short-term demand outlook for the base metal. Meanwhile, at the end of October, Washington threatened to roll out a fresh batch of trade tariffs against China. The announcement, coupled with data which showed manufacturing output growth slipping to an over two-year low, added further downward pressure on lead prices. Meanwhile, Chinese demand for lead also cooled on the back of softening dynamics in motorcycle, automotive and e-bike sectors, and the growing popularity of lithium-ion batteries.
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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