Lead prices averaged USD 2,252 per metric ton in September, up 4.5% from August’s price of USD 2,155 per metric ton. September’s average price for lead was 20.4% higher year on year. Meanwhile, on 29 September, lead traded at USD 2,200 per metric ton, 2.1% lower month on month.
Prices rose in September amid a healthier demand backdrop in China. The manufacturing PMI edged into expansionary terrain in September, pointing to stronger demand for the metal. Robust automobile sales worldwide in August and September provided additional support. Supply-wise, recent developments were a mixed bag for prices. A Portuguese lead mine ceased operations in late September amid low profitability. That said, secondary lead output in China rose in August, and this trend is expected to have continued in September.
Lead LME (prices in US$/mt, aop)
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Lead LME | - | - | - | - | 2,326 | 2,200 | 1,976 | 2,110 |