Lead Prices

Lead prices averaged USD 1,906 per metric ton in April, down 6.2% from March. On 30 April, the commodity traded at USD 1,947 per metric ton, down 1.9% from 31 March.

Prices fell off a cliff in early April when the U.S. set higher tariffs on China and the latter retaliated. Higher trade barriers are expected to dent lead demand due to weaker economic growth; the tariffs caused China’s manufacturing PMI to fall into contractionary terrain in April. Moreover, the automobile sector—which accounts for roughly two thirds of lead demand—was hit by a U.S. tariff of 25%, further denting prices.