Client Portal

Lead Outlook

Adobestock 408487962

Expert lead market insights

Our quarterly lead outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for the lead futures and spot prices are analysed. Our research team produce a lead price range forecast as part of the report.

Adobestock 138077830
Latest

Lead Outlook – Q2 2025

Lead mirrored the broader market performance, dropping below the $2,000/t mark, as demand concerns grew more prominent. With the lead-acid battery off-season ending, lead prices may recover back above this level, supported by renewed demand. However, the long-term outlook is less constructive, with growing oversupply and waning demand, prompted by auto tariffs and continued transition towards EVs, weighing on lead’s price prospects. Our Q2 2025 outlook remains cautious, with resistance expected around $2,100/t despite near-term recovery signs.

Metals

As we enter the second half of Q2 2025, markets remain gripped by tariff uncertainty, with Trump’s trade agenda continuing to drive global risk sentiment. Volatility has rippled across FX, bonds, and commodities, as investors weigh the trajectory of trade negotiations and the looming end of the 90-day tariff pause. With diplomacy fragile and positioning increasingly tactical, what lies ahead for metals markets in May and June?
Quarterly Metals Report

Quarterly Metals Report Archive

Lead Outlook – Q1 2025
Lead Outlook – Q4 2024
Lead Outlook – Q3 2024
Lead Outlook – Q2 2024
Lead Outlook – Q1 2024
Lead Outlook – Q4 2023
Lead Outlook – Q3 2023
Lead Outlook – Q2 2023
Load more

Sign up to get the latest market insights

We will email you each time a new report has been published.

You might like

EV & Battery Materials Outlook

The suite of reports looks at how the global automobile market is changing as vehicle manufacturers look to transition to a more environmentally friendly fleet of autos.

EV & Battery Materials Outlook

Daily Base Metals Analysis

Our daily base metals reports summarise the day's trading activity for the LME and other key base metal markets. In addition, we provide an overview of the day's significant macroeconomic trends, including relevant energy and precious metals commentary. The report also incorporates base metals pricing data, including LME closing prices.

Daily Base Metals Analysis

FX Outlook

As an established market participant in foreign exchange, we supply liquidity and a full range of FX services to various global institutions. Our research team and experienced traders and brokers leverage their insights and expertise to produce practical and unique currency outlooks covering a wide range of FX pairs. Our regular FX insights include a monthly FX outlook and daily FX analysis, with currency commentary and key technical levels.

FX Outlook

Base Metals

We execute and clear a significant proportion of the market activity on the London Metal Exchange (LME), the world's largest non-ferrous metals exchange. We also provide access to the CME’s base metal futures and options contracts on its COMEX exchange and copper on the Shanghai International Energy Exchange (INE).

Base Metals

Subscribe

Select all the reports you wish to sign up for and submit your details below

Thank you for subscribing.

You should receive a confirmation email shortly. Please check your spam /junk mail folder if not received within a few minutes.

Do not forget to click the link in the confirmation message, otherwise, you will not receive any of our future emails.

This field is required
This field is required
This field is required
This field is required

Please note that we cannot email subscribers in the European Economic Area (EEA) or Switzerland, except for journalists.

(Please note that we cannot email subscribers in the European Economic Area (EEA) or Switzerland, except for journalists.)
You must agree to our terms and conditions before submitting the form
* Mandatory fields