Lead prices averaged USD 2,088 per metric ton in May, which was 2.6% lower than April’s price of USD 2,145 per metric ton. May’s average price for lead was down 2.8% from the same month last year. Meanwhile, on 31 May, lead traded at USD 2,012 per metric ton, which was down 7.5% from the same day of the previous month.
Prices were dented by weak demand during the off-season of the lead-acid battery sector, as well as muted overall industrial momentum in top consumers China and the U.S.—signaled by negative manufacturing PMI readings in May. On the supply side, recent developments also weighed on prices: Lead supply in China—the world’s number one producer—likely strengthened as the end of maintenance and stabilizing production in several smelters supported secondary lead output during the month.
Lead LME (prices in US$/mt, aop)
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