Lead in deficit of 60,000 tn this year

London-based Natixis Commodity Markets has forecasted that the non-ferrous metal, lead will be in a deficit of 60,000 tonnes in calendar year 2007, as compared to their previous estimate of a 35,000 tonne shortfall, and that's despite the current volatility witnessed on the global commodity markets due to sub-prime problems. Amongst domestic players, Hindustan Zinc is a large supplier. .

Meanwhile, the Portugal-based global industry body International Lead and Zinc study group highlighted that lead consumption in the Asian region (including India) amounted to 1,696,000 tonnes between January to May 2007 as compared to 1,525,000 tonnes in the corresponding period of the previous year.

Strong demand for lead in the Asian region has come at a time when the average price of lead was $2181.4 per tonne on the LME in the June 2007 quarter as compared to $1094.6 per tonne a year. Lead currently trades at $2924 per tonne.