Lead mine production and demand to grow in 2025
Weaker mine production, muted demand, lower prices and falling TCs continue to impact the lead market, Scott Gray said.
Fastmarkets assessed the lead spot concentrate TC, high silver, cif China at $(40)-(20) per tonne in September, down from [#CONTENT#]-30 per tonne in January.
She also noted that China flipped from a net exporter to a net importer of refined lead this year.
However, looking forward, she expects that both mine production and demand will grow within the next year.
StoneX predicts that lead mining will increase in 2025 due to the increase in copper, zinc and silver mining. The company also predicts that demand will grow by 2.2%, compared with flat growth last year, and expects that falling interest rates will improve demand for batteries.
Macro tailwinds and modest fundamentals will result in slightly higher LME prices next year, Scott Gray predicted.
source/fastmarkets.com
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