As we delve into the latest lead market figures available from April 2023, to shed light on the U.S. lead market's production, trade, and pricing dynamics, we'll explore the domestic mine production, the secondary refined lead production, and the burgeoning export figures and the price trends in the North American and global markets.
U.S. domestic mine production remains steady, while secondary refined lead production sees a slight increase.
U.S. continues to be a significant exporter of lead concentrates, with notable export growth compared to the same period in 2022.
Import of unwrought lead decreases, reflecting a shift in trade dynamics.
Price trends exhibit a minor increase on a monthly basis but a decrease year-over-year, indicating market volatility.
In April 2023, the domestic mine production of recoverable lead was 23,200 metric tons, maintaining the same daily production rate as the previous month but showing a 14% decrease compared to April 2022. On the other hand, secondary refined lead production increased by 5% from the previous month, totaling 82,400 metric tons. The U.S. exported 64,200 metric tons of lead in ores and concentrates through April 2023, marking a 24% increase from the same period in 2022. The primary destinations were Japan, Canada, and China. Conversely, the U.S. imported 199,000 metric tons of unwrought lead, a 9% decrease from the same period in the previous year, with the Republic of Korea, Australia, and Canada being the leading import sources.
The North American premium to the LME cash price averaged 19.7 cents per pound in April 2023, slightly less than March 2023 but 6% more than April 2022. The Platts average U.S. used lead-acid batteries price was 20.3 cents per pound, a 3% increase from March 2023 but 17% less than April 2022, reflecting the market's demand for secondary lead recovered from used lead-acid batteries.
The average London Metal Exchange (LME) cash price for lead in April was 97.5 cents per pound, slightly higher than the previous month but 10% lower than April 2022. Similarly, the S&P Global Platts Metals Week (Platts) average North American Market price for lead was $1.17 per pound, nearly unchanged from the previous month but 8% lower than April 2022. Global LME lead stocks at the end of April 2023 were 32,300 metric tons, a 22% increase from the end of March 2023 but a 15% decrease from the end of April 2022. This fluctuation in global stocks indicates the dynamic nature of the lead market.
The lead market in the U.S. and globally is experiencing a mix of steady production, fluctuating trade, and volatile pricing. Understanding these dynamics is crucial for stakeholders to make informed decisions in this market. Hedgify provides the insights you need to navigate through these market shifts effectively.
The information provided in this market insight is for general informational purposes and should not be considered as financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.
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