Lead to fall back to 600-800 per tonne when bull run ends

摘要

Lead prices will fall by as much as 40 percent to levels around 600-800 dollars per tonne on a cash basis when the bull run which has propelled lead to multi-year highs comes to an end, according to lead and zinc analyst Huw Roberts from CHR Metals. Indications are emerging that the lead market is returning to a surplus, given the recent increase in London Metal Exchange warehouse stocks, particularly in Singapore. This will inevitably put pressure on lead prices, Roberts said, although he would not say when he expects prices to fall back because the timing depends on funds, rather than supply and demand. "The market is moving into surplus. I'd expect to see prices fall back from current highs and expect it quite soon," he told European battery producers gathered for the agm of Eurobat, the association representing Europe's battery makers.