LOS ANGELES, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The average lead price is expected to drop by approx. 5% y/y to $2,100 per this year, according to a new report published by market research company IndexBox. After a drop in 2021, global lead supply is expected to rise, primarily due to the increased output of lead-containing by-products from zinc mines and boosting recycling in China. Coupled with the transition to electric cars with nickel-lithium batteries and falling demand for gas-powered vehicles, that should lead to a decrease in demand for lead batteries and, as a consequence, for the metal as well.
Limited supply combined with surging demand for lead-acid accumulators led to a spike in lead price last year. According to World Bank and USGS data, the annual price for the refined lead soared by 20.6% y/y to $2,200 per tonne in 2021. The reason was that global lead production decreased by 2% y/y to 4.3M tonnes owing to the closure of several secondary smelters, including one in South Carolina, the U.S. At the same time, the need for lead accumulators increased significantly during that time due to booming used car sales and old battery replacement.
Global Lead Exports
Global lead exports reduced to 2.6M tonnes in 2020, shrinking by -7.1% on the year before. In value terms, supplies totalled $5.1B.
South Korea (327K tonnes) and Australia (297K tonnes) represented the largest exporters of lead across the globe, together making up 24% of total volume. It was followed by Canada (185K tonnes), the UK (177K tonnes), India (167K tonnes), Germany (127K tonnes) and Belgium (116K tonnes), together mixing up a 30% share of total exports. Kazakhstan (109K tonnes), Russia (94K tonnes), Bulgaria (87K tonnes), Sweden (78K tonnes), Poland (67K tonnes) and Japan (58K tonnes) took a minor share of total supplies.
In value terms, the largest lead supplying countries worldwide were South Korea ($650M), Australia ($617M) and the UK ($385M), together accounting for 32% of global exports. Canada, India, Germany, Belgium, Bulgaria, Russia, Sweden, Poland, Japan and Kazakhstan lagged somewhat behind, comprising a further 40%.
Japan doubled the value of exports in 2020, while shipments for the other global leaders experienced more modest paces of growth.
Top World’s Lead Importers
In 2020, the U.S. (383K tonnes), followed by India (246K tonnes), Viet Nam (237K tonnes), Germany (178K tonnes), the Czech Republic (164K tonnes), the UK (154K tonnes), South Korea (140K tonnes) and Turkey (134K tonnes) were the major importers of lead, together generating 59% of total volume. The following importers - Spain (119K tonnes), Thailand (91K tonnes), Taiwan (Chinese) (87K tonnes), Italy (77K tonnes) and Poland (69K tonnes) - together made up 16% of total supplies.
In value terms, the U.S. ($741M), India ($487M) and Viet Nam ($466M) were the countries with the highest levels of imports in 2020, together accounting for 31% of global supplies.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Companies Mentioned in the Report
Glencore PLC, South32 Ltd, Teck Resources Ltd, Industrias Penoles SAB de CV, Newmont Corp, Boliden AB, Volcan Compania Minera SAA, Zijin Mining Group Co Ltd, Compania De Minas Buenaventura SAA, Hecla Mining Co, BHP Billiton, Perilya Ltd, Silvercorp Metals Inc., Sumitomo Metal Mining Co. Ltd, Zincore Metals Inc., CBH Resources Ltd, Anglo Americal PLC, Coeur Mining, Rio Tinto, Terramin
Sources
World - Lead - Market Analysis, Forecast, Size, Trends and Insights
World - Lead Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
