Could 2020 market trends bring new lustre to gloomy lead market?

摘要

The year 2020 will see lead metal transition into a market surplus after several years of significant deficit, according to Wood Mackenzie. Despite total exchange stocks of the refined metal remaining near historical lows, softening demand has damaged sentiment. The extent to which weaker consumption, particularly in the automotive sector, will be offset by supply shortfalls and smelter bottlenecks is key to lead's performance this year. Realignment of focus by some Asian smelters may place serious pressure on refined lead availability in North America, thus impacting the American battery industry and the electrification of transport.