Lead markets – is there life in the old dog yet?

Commodity markets have taken a battering from the economic storms created by the coronavirus pandemic since early 2020. The lead market, however, has proven remarkably resilient with consumption this year already returning to pre-pandemic levels, whilst other base metals unlikely achieve similar levels of demand for another year or two. This paper will examine how lead managed to avoid being deflected by the worst of the Covid-19 effects and how this recovery will continue in the coming years. Consideration will also be given as to whether the impact of surging EV penetration will finally halt the growth in lead demand, plus whether it can play a leading role in the future energy transition landscape to offset demand losses in its traditional automotive market.


Mr Farid Ahmed Principal Analyst Lead Markets, Wood Mackenzie Ltd

Farid Ahmed has spent his entire career in the metals industry. After some years in production and technical roles, he transitioned into the commercial world of lead with the advantage of being able to combine his specialist background with the wider business needs of a technical and commodity-based product. In 2005 he founded a business consultancy focusing on the metals industry and on lead in particular. Farid joined Wood Mackenzie in 2105 as Principal Analyst Lead Markets.