Both the supply and demand of the lead market are expected to increase in March. Regional supply tightness will continue to exist. Combined with the of-season for lead, lead prices should have support but lack impetus to rise.
The output of domestic lead concentrate decreased due to the CNY holiday in February and the cold weather in high-altitude areas. In March, the Two Sessions (NPC and CPPCC) and the five-month mine safety rectifications in some regions represented by Inner Mongolia will limit the growth in lead concentrate output.