Lead Prices

Lead prices averaged USD 2,055 per metric ton in March, down 1.2% from February. On 29 March, the commodity traded at USD 2,024 per metric ton, down 1.6% from 29 February.

In recent weeks, lead prices extended their losses as LME inventories continued to rise: In late March, inventories reached their highest level in 11 years, indicating that supply has exceeded demand in recent months; the automotive sector—a key user of the metal—started the year on a weak note as signaled by soft global automobile sales in Q1. That said, PMI data for March suggests that global manufacturing activity recently gathered some steam, which likely capped price losses.