Kedia April commodity seasonality report 2020

1. 4/2/2020
April 2020
1Thursday, April 2, 2020
Commodity Seasonality Report
URL: www.kediaadvisory.com Page No

2. April 2020
Thursday, April 2, 2020 2
Crude oil
4 Natural Gas
5 Copper
6 Zinc
7 Nickel
8 Aluminium
URL: www.kediaadvisory.com Page No
INDEX
Gold1
2 Silver
3
9 Lead
Sr. No. Commodity Page No
4
3
5
6
7
8
9
10
11

3. April 2020
URL: www.kediaadvisory.com Page NoThursday, April 2, 2020 3
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
19922 20923 20693 22820 22426 21904 23166 27184 25989 27343 29061 27329 6601.00
-3.89 5.02 -1.10 10.28 -1.73 -2.33 5.76 17.34 -4.40 5.21 6.28 -5.96 31.85
28078 27952 28518 29183 29148 29665 29749 31206 31535 31105 31076 30859 3530.00
2.74 -0.45 2.02 2.33 -0.12 1.77 0.28 4.90 1.05 -1.36 -0.09 -0.70 12.92
29871 29570 29394 26905 26874 25669 28207 35074 29874 29793 29234 28364 -2495.00
-3.20 -1.01 -0.60 -8.47 -0.12 -4.48 9.89 24.35 -14.83 -0.27 -1.88 -2.98 -8.09
29462 30090 28536 28887 26863 27776 27818 27996 26313 25881 25835 26703 -1661.00
3.87 2.13 -5.16 1.23 -7.01 3.40 0.15 0.64 -6.01 -1.64 -0.18 3.36 -5.86
27895 26477 26204 26716 26860 26471 24813 26682 25856 26499 25069 24931 -1772.00
4.46 -5.08 -1.03 1.95 0.54 -1.45 -6.26 7.53 -3.10 2.49 -5.40 -0.55 -6.64
26638 29513 28549 30266 28627 31199 31549 30724 30742 29950 28385 27445 2514.00
6.85 10.79 -3.27 6.01 -5.42 8.98 1.12 -2.61 0.06 -2.58 -5.23 -3.31 10.08
28942 29566 28463 28873 28843 28439 28557 29745 29557 29153 29012 29000 1555.00
5.45 2.16 -3.73 1.44 -0.10 -1.40 0.41 4.16 -0.63 -1.37 -0.48 -0.04 5.67
30117 30379 30408 31036 30831 30432 29653 30129 30481 31748 30240 31391 2391.00
3.85 0.87 0.10 2.07 -0.66 -1.29 -2.56 1.61 1.17 4.16 -4.75 3.81 8.24
33096 33286 31998 31756 32266 34206 35420 38805 37323 38578 38031 39108 7717.00
5.43 0.57 -3.87 -0.76 1.61 6.01 3.55 9.56 -3.82 3.36 -1.42 2.83 24.58
41000 41397 43000 3892.00
4.84 0.97 3.87 9.95
7.512.50 -1.43 -0.56 1.21 -0.94 -0.26
2016
2017
2018
GOLD PRICE MOVEMENT SINCE 2011
2011
Average
2012
2013
2014
2015
-3.10Average 1.78 2.12 1.18
2019
0.66
2020

4. URL: www.kediaadvisory.com Page NoThursday, April 2, 2020 4
April 2020
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
43640 49850 55970 70507 57919 50963 58896 64115 51111 56427 55520 51029 4812.00
-5.58 14.23 12.28 25.97 -17.85 -12.01 15.57 8.86 -20.28 10.40 -1.61 -8.09 10.41
56422 57783 56790 56482 54110 51987 53974 58408 62780 59881 61185 57864 6835.00
10.57 2.41 -1.72 -0.54 -4.20 -3.92 3.82 8.22 7.49 -4.62 2.18 -5.43 13.39
57849 53267 53072 44833 43616 40208 41520 53212 49148 48431 44274 43833 -14031.00
-0.03 -7.92 -0.37 -15.52 -2.71 -7.81 3.26 28.16 -7.64 -1.46 -8.58 -1.00 -24.25
43309 46362 42805 41329 40851 44114 44399 42255 38516 35797 34527 35990 -7843.00
-1.20 7.05 -7.67 -3.45 -1.16 7.99 0.65 -4.83 -8.85 -7.06 -3.55 4.24 -17.89
38105 36716 37169 36515 38349 35536 34025 34581 34547 36490 33480 33299 -2691.00
5.88 -3.65 1.23 -1.76 5.02 -7.34 -4.25 1.63 -0.10 5.62 -8.25 -0.54 -7.48
34750 36081 36751 41566 38400 43467 47480 43988 45726 42402 40089 39485 6186.00
4.36 3.83 1.86 13.10 -7.62 13.20 9.23 -7.35 3.95 -7.27 -5.45 -1.51 18.58
41911 43247 42326 39503 40096 38344 38645 39798 39457 38818 37532 39000 -485.00
6.14 3.19 -2.13 -6.67 1.50 -4.37 0.78 2.98 -0.86 -1.62 -3.31 3.91 -1.23
39319 38246 38322 38642 39904 39228 38321 37482 38577 38050 36025 38821 -179.00
0.82 -2.73 0.20 0.84 3.27 -1.69 -2.31 -2.19 2.92 -1.37 -5.32 7.76 -0.46
40439 39760 37761 37714 36449 37452 41227 46776 44119 46764 44506 46711 7890.00
4.17 -1.68 -5.03 -0.12 -3.35 2.75 10.08 13.46 -5.68 6.00 -4.83 4.95 20.32
46989 43979 39520 -7191.00
0.60 -6.41 -10.14 -15.39
Average-2.36 -1.21 3.36 5.69
SILVER PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
2017
2018
1.12 -2.28 1.18-2.24Average 1.91 0.85 -0.63 1.69
2019
2020

5. April 2020
Thursday, April 2, 2020 5URL: www.kediaadvisory.com Page No
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
4229 4444 4744 5047 4631 4241 4237 4081 3995 4516 5219 5296 1208.00
3.45 5.08 6.75 6.39 -8.24 -8.42 -0.09 -3.68 -2.11 13.04 15.57 1.48 28.56
4927 5227 5274 5514 4919 4695 4921 5358 4887 4666 4838 5015 -281.00
-6.97 6.09 0.90 4.55 -10.79 -4.55 4.81 8.88 -8.79 -4.52 3.69 3.66 -5.31
5202 5076 5400 5014 5273 5763 6409 7246 6440 5996 5839 6122 1107.00
3.73 -2.42 6.38 -7.15 5.17 9.29 11.21 13.06 -11.12 -6.89 -2.62 4.85 22.07
6169 6371 6119 6015 6106 6337 6006 5831 5673 4931 4210 3369 -2753.00
0.77 3.27 -3.96 -1.70 1.51 3.78 -5.22 -2.91 -2.71 -13.08 -14.62 -19.98 -44.97
2855 3064 3025 3790 3869 3776 3038 3230 2979 3068 2798 2493 -876.00
-15.26 7.32 -1.27 25.29 2.08 -2.40 -19.54 6.32 -7.77 2.99 -8.80 -10.90 -26.00
2286 2321 2572 3035 3333 3304 2782 3003 3212 3153 3377 3541 1048.00
-8.30 1.53 10.81 18.00 9.82 -0.87 -15.80 7.94 6.96 -1.84 7.10 4.86 42.04
3614 3566 3284 3174 3127 2968 3183 3038 3373 3528 3687 3850 309.00
2.06 -1.33 -7.91 -3.35 -1.48 -5.08 7.24 -4.56 11.03 4.60 4.51 4.42 8.73
4112 4093 4234 4583 4517 5086 4734 4959 5335 4892 3576 3170 -680.00
6.81 -0.46 3.44 8.24 -1.44 12.60 -6.92 4.75 7.58 -8.30 -26.90 -11.35 -17.66
3869 4090 4185 4467 3775 4095 4032 3958 3880 3853 3980 4386 1216.00
22.05 5.71 2.32 6.74 -15.49 8.48 -1.54 -1.84 -1.97 -0.70 3.30 10.20 38.36
3683 3263 1689 -2697.00
-16.03 -11.40 -48.24 -61.49
-0.48Average -1.55 2.00 -2.59 5.87 -2.80 1.45 -2.21 2.24
CRUDE OIL PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
-1.36 -1.07 -0.86
2017
2018
Average
2019
2020

6. April 2020
Thursday, April 2, 2020 URL: www.kediaadvisory.com Page No 6
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
200.20 185.70 197.40 208.30 211.40 196.00 185.10 185.60 184.40 191.80 187.70 161.50 -36.30
1.21 -7.24 6.30 5.52 1.49 -7.28 -5.56 0.27 -0.65 4.01 -2.14 -13.96 -18.35
125.40 128.70 110.20 120.70 140.20 155.90 178.50 155.50 176.10 201.90 195.80 184.90 23.40
-22.35 2.63 -14.37 9.53 16.16 11.20 14.50 -12.89 13.25 14.65 -3.02 -5.57 14.49
178.20 191.10 221.90 232.60 227.70 214.80 210.80 239.50 223.80 223.00 246.70 265.50 80.60
-3.62 7.24 16.12 4.82 -2.11 -5.67 -1.86 13.61 -6.56 -0.36 10.63 7.62 43.59
302.60 288.10 262.50 292.60 271.20 269.90 237.60 246.90 257.80 239.90 259.30 189.10 -76.40
13.97 -4.79 -8.89 11.47 -7.31 -0.48 -11.97 3.91 4.41 -6.94 8.09 -27.07 -28.78
168.40 167.70 167.00 175.60 169.80 179.90 174.80 178.70 166.70 152.00 150.30 155.90 -33.20
-10.95 -0.42 -0.42 5.15 -3.30 5.95 -2.83 2.23 -6.72 -8.82 -1.12 3.73 -17.56
155.90 118.10 129.90 143.80 155.00 197.30 192.90 194.40 194.00 204.10 229.60 252.00 96.10
0.00 -24.25 9.99 10.70 7.79 27.29 -2.23 0.78 -0.21 5.21 12.49 9.76 61.64
212.80 185.00 205.80 212.10 198.60 193.80 180.00 194.80 198.40 187.80 197.10 189.70 -62.30
-15.56 -13.06 11.24 3.06 -6.36 -2.42 -7.12 8.22 1.85 -5.34 4.95 -3.75 -24.72
190.50 175.90 179.40 183.80 199.50 200.80 192.80 206.90 218.00 241.60 317.40 212.20 22.50
0.42 -7.66 1.99 2.45 8.54 0.65 -3.98 7.31 5.36 10.83 31.37 -33.14 11.86
201.50 199.50 186.70 180.80 172.30 160.50 155.10 164.00 165.80 187.00 167.20 155.50 -56.70
-5.04 -0.99 -6.42 -3.16 -4.70 -6.85 -3.36 5.74 1.10 12.79 -10.59 -7.00 -26.72
132.40 124.30 131.50 -24.00
-14.86 -6.12 5.79 -15.43
0.74Average -5.86 -5.68 0.16 4.86 2.60 2.84 -1.92 0.94 Average
2019
NATURAL GAS PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
3.39 5.38 -6.73
2017
2018
2020

7. April 2020
Thursday, April 2, 2020 URL: www.kediaadvisory.com Page No 7
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
451.90 445.75 425.30 415.90 417.35 421.10 436.85 427.10 349.80 392.95 409.75 406.00 -33.50
2.82 -1.36 -4.59 -2.21 0.35 0.90 3.74 -2.23 -18.10 12.34 4.28 -0.92 -7.62
417.15 417.70 431.65 443.90 420.25 429.40 422.55 424.30 441.05 419.70 436.30 443.75 37.75
2.75 0.13 3.34 2.84 -5.33 2.18 -1.60 0.41 3.95 -4.84 3.96 1.71 9.30
440.05 418.20 410.20 381.00 413.05 406.60 421.55 486.95 466.40 452.50 444.40 468.55 24.80
-0.83 -4.97 -1.91 -7.12 8.41 -1.56 3.68 15.51 -4.22 -2.98 -1.79 5.43 5.59
444.95 443.20 404.15 403.00 410.80 422.35 436.10 417.95 416.00 414.70 390.75 399.10 -69.45
-5.04 -0.39 -8.81 -0.28 1.94 2.81 3.26 -4.16 -0.47 -0.31 -5.78 2.14 -14.82
342.85 371.80 378.45 404.60 386.65 368.75 335.40 341.75 342.70 336.55 301.15 315.50 -83.60
-14.09 8.44 1.79 6.91 -4.44 -4.63 -9.04 1.89 0.28 -1.79 -10.52 4.77 -20.95
311.60 322.00 321.25 334.20 312.50 327.15 329.70 305.60 328.55 326.05 396.05 372.90 57.40
-1.24 3.34 -0.23 4.03 -6.49 4.69 0.78 -7.31 7.51 -0.76 21.47 -5.85 18.19
406.10 397.85 380.75 367.60 368.75 385.20 410.65 434.55 427.95 444.70 431.40 466.00 93.10
8.90 -2.03 -4.30 -3.45 0.31 4.46 6.61 5.82 -1.52 3.91 -2.99 8.02 24.97
450.90 446.00 436.80 449.40 457.05 446.15 430.15 414.00 452.95 435.70 433.10 407.75 -58.25
-3.24 -1.09 -2.06 2.88 1.70 -2.38 -3.59 -3.75 9.41 -3.81 -0.60 -5.85 -12.50
437.60 464.70 451.05 450.30 404.50 411.05 444.15 443.95 438.05 437.95 432.60 441.25 33.50
7.32 6.19 -2.94 -0.17 -10.17 1.62 8.05 -0.05 -1.33 -0.02 -1.22 2.00 8.22
427.25 421.80 376.80 -64.45
-3.17 -1.28 -10.67 -14.61
2019
Average-0.07Average -1.39 1.31 -2.30 -0.35 -1.61 0.26 2.41 0.93
2020
2017
2018
COPPER PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
0.36 1.19 2.47

8. April 2020
Thursday, April 2, 2020 URL: www.kediaadvisory.com Page No 8
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
107.25 111.90 103.50 101.20 101.30 103.50 109.95 104.85 93.20 93.75 101.35 98.45 -10.55
-1.61 4.34 -7.51 -2.22 0.10 2.17 6.23 -4.64 -11.11 0.59 8.11 -2.86 -9.68
105.60 104.00 102.85 107.10 107.15 103.95 103.20 100.60 110.45 99.30 110.55 111.45 13.00
7.26 -1.52 -1.11 4.13 0.05 -2.99 -0.72 -2.52 9.79 -10.10 11.33 0.81 13.20
113.95 111.05 102.90 110.50 106.30 109.70 109.55 128.25 117.80 118.25 116.00 129.05 17.60
2.24 -2.54 -7.34 7.39 -3.80 3.20 -0.14 17.07 -8.15 0.38 -1.90 11.25 15.79
122.80 130.95 119.05 123.95 122.40 132.45 144.55 142.90 141.10 143.40 138.00 137.20 8.15
-4.84 6.64 -9.09 4.12 -1.25 8.21 9.14 -1.14 -1.26 1.63 -3.77 -0.58 6.32
130.40 127.70 129.90 149.75 141.05 127.10 122.85 121.30 108.90 109.10 103.20 106.15 -31.05
-4.96 -2.07 1.72 15.28 -5.81 -9.89 -3.34 -1.26 -10.22 0.18 -5.41 2.86 -22.63
109.25 122.45 118.40 129.20 129.30 142.15 148.80 155.90 158.10 163.90 185.55 173.80 67.65
2.92 12.08 -3.31 9.12 0.08 9.94 4.68 4.77 1.41 3.67 13.21 -6.33 63.73
193.10 187.70 180.40 169.45 165.95 178.25 179.50 200.95 210.20 215.05 205.95 207.60 33.80
11.10 -2.80 -3.89 -6.07 -2.07 7.41 0.70 11.95 4.60 2.31 -4.23 0.80 19.45
228.60 227.75 214.10 211.75 209.05 202.15 180.40 176.10 186.65 191.60 180.20 171.95 -35.65
10.12 -0.37 -5.99 -1.10 -1.28 -3.30 -10.76 -2.38 5.99 2.65 -5.95 -4.58 -17.17
195.15 197.80 221.35 223.20 203.00 200.50 192.25 185.30 185.55 187.85 185.05 179.00 7.05
13.49 1.36 11.91 0.84 -9.05 -1.23 -4.11 -3.62 0.13 1.24 -1.49 -3.27 11.81
174.45 154.85 145.50 -33.50
-13.49 -11.24 -6.04 11.81
2019
Average0.38 1.71 2.19
ZINC PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
2017
2018
1.38 -0.13 1.11-0.74Average 0.34 0.66 -2.30 2.57 -3.41
2020

9. April 2020
9Thursday, April 2, 2020 URL: www.kediaadvisory.com Page No
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
1243.90 1294.00 1165.40 1202.40 1045.80 1037.70 1098.80 1022.90 898.80 940.90 869.60 991.20 -120.60
11.88 4.03 -9.94 3.17 -13.02 -0.77 5.89 -6.91 -12.13 4.68 -7.58 13.98 -10.85
1050.20 974.30 917.40 936.60 923.80 935.40 892.80 884.40 978.50 878.50 931.70 935.70 -55.50
5.95 -7.23 -5.84 2.09 -1.37 1.26 -4.55 -0.94 10.64 -10.22 6.06 0.43 -5.60
979.10 895.70 911.50 824.00 826.70 823.90 829.20 928.20 869.80 891.20 836.90 864.50 -71.20
4.64 -8.52 1.76 -9.60 0.33 -0.34 0.64 11.94 -6.29 2.46 -6.09 3.30 -7.61
855.80 902.80 945.50 1097.40 1139.60 1124.30 1130.40 1140.30 1016.80 971.00 996.80 945.70 81.20
-1.01 5.49 4.73 16.07 3.85 -1.34 0.54 0.88 -10.83 -4.50 2.66 -5.13 9.49
912.90 874.90 779.70 881.00 808.00 744.50 698.50 668.10 661.90 660.90 583.50 582.00 -363.70
-3.47 -4.16 -10.88 12.99 -8.29 -7.86 -6.18 -4.35 -0.93 -0.15 -11.71 -0.26 -38.46
579.80 577.60 549.10 629.10 568.50 636.40 700.00 651.20 703.30 696.30 751.20 706.00 169.20
-0.38 -0.38 -4.93 14.57 -9.63 11.94 9.99 -6.97 8.00 -1.00 7.88 -6.02 29.07
670.30 725.30 640.10 608.90 568.50 600.60 655.70 743.70 691.60 766.30 727.50 783.40 77.40
-5.06 8.21 -11.75 -4.87 -6.63 5.65 9.17 13.42 -7.01 10.80 -5.06 7.68 10.96
863.10 898.30 840.50 916.40 1024.40 1022.30 944.00 909.30 905.00 860.00 774.80 741.60 -41.80
10.17 4.08 -6.43 9.03 11.79 -0.20 -7.66 -3.68 -0.47 -4.97 -9.91 -4.28 -5.34
884.90 931.10 904.00 854.60 876.50 906.00 1013.50 1245.40 1216.80 1200.40 1006 1029 287.6
19.32 5.22 -2.91 -5.46 2.56 3.37 11.87 22.88 -2.30 -1.35 -16.24 2.36 38.78
943.80 901.00 860.10 -169.1
-8.30 -4.53 -4.54 -16.43
Average
2016
2017
2018
NICKEL PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2019
-0.52 -3.99 1.92-1.33Average 3.03 1.38 -3.17 3.98 -3.41 0.27 2.85 2.53
2020

10. April 2020
Thursday, April 2, 2020 URL: www.kediaadvisory.com 10Page No
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
114.05 114.35 116.05 122.55 119.25 112.20 115.55 112.60 107.95 106.85 103.10 106.95 -3.20
3.54 0.26 1.49 5.60 -2.69 -5.91 2.99 -2.55 -4.13 -1.02 -3.51 3.73 -2.91
112.15 112.65 108.35 108.05 111.35 105.65 103.95 103.00 110.95 101.85 113.35 111.75 4.80
4.86 0.45 -3.82 -0.28 3.05 -5.12 -1.61 -0.91 7.72 -8.20 11.29 -1.41 4.49
110.50 105.40 103.65 100.10 105.95 105.05 105.85 122.10 113.15 112.55 106.75 109.20 -2.55
-1.12 -4.62 -1.66 -3.42 5.84 -0.85 0.76 15.35 -7.33 -0.53 -5.15 2.30 -2.28
103.90 107.00 104.00 106.75 107.65 111.20 121.45 126.70 119.20 126.85 128.35 116.00 6.80
-4.85 2.98 -2.80 2.64 0.84 3.30 9.22 4.32 -5.92 6.42 1.18 -9.62 6.23
113.45 112.40 111.95 121.40 108.75 104.95 102.00 107.15 102.60 94.40 96.35 100.15 -15.85
-2.20 -0.93 -0.40 8.44 -10.42 -3.49 -2.81 5.05 -4.25 -7.99 2.07 3.94 -13.66
103.80 111.25 98.90 111.25 104.00 110.55 108.30 107.20 110.55 115.95 118.00 117.20 17.05
3.64 7.18 -11.10 12.49 -6.52 6.30 -2.04 -1.02 3.12 4.88 1.77 -0.68 17.02
123.40 126.45 126.20 123.90 123.90 123.55 121.95 135.30 137.90 138.60 131.00 143.30 26.10
5.29 2.47 -0.20 -1.82 0.00 -0.28 -1.30 10.95 1.92 0.51 -5.48 9.39 22.27
141.65 140.50 130.65 148.50 154.15 149.70 141.40 150.10 145.90 143.95 137.20 128.15 -15.15
-1.15 -0.81 -7.01 13.66 3.80 -2.89 -5.54 6.15 -2.80 -1.34 -4.69 -6.60 -10.57
136.00 151.10 149.15 146.20 145.35 143.20 140.35 138.70 134.60 132.00 133.55 137.25 9.10
6.13 11.10 -1.29 -1.98 -0.58 -1.48 -1.99 -1.18 -2.96 -1.93 1.17 2.77 7.10
139.10 136.70 134.45 -2.80
1.35 -1.73 -1.65 -2.04
2019
Average3.27-1.56 -0.670.89
2020
ALUMINIUM PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
2017
-0.77 -0.34 1.04
2018
Average 0.81 1.62 -2.05 2.91 -0.92

11. April 2020
Thursday, April 2, 2020 URL: www.kediaadvisory.com Page No 11
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Growth
118.35 114.50 121.45 112.80 114.00 117.25 116.25 118.65 100.80 96.80 103.55 107.65 -8.25
2.11 -3.25 6.07 -7.12 1.06 2.85 -0.85 2.06 -15.04 -3.97 6.97 3.96 -7.12
111.85 109.25 104.90 113.20 108.45 104.10 108.60 109.40 119.90 113.40 122.90 128.15 20.50
3.90 -2.32 -3.98 7.91 -4.20 -4.01 4.32 0.74 9.60 -5.42 8.38 4.27 19.04
129.90 123.00 114.85 109.45 123.90 122.25 124.25 145.15 130.25 133.20 128.00 136.50 8.35
1.37 -5.31 -6.63 -4.70 13.20 -1.33 1.64 16.82 -10.27 2.26 -3.90 6.64 6.52
130.65 131.30 122.65 126.00 123.05 127.95 134.75 135.85 128.30 123.70 125.60 117.30 -19.20
-4.29 0.50 -6.59 2.73 -2.34 3.98 5.31 0.82 -5.56 -3.59 1.54 -6.61 -14.07
113.85 107.70 113.15 135.05 124.90 111.80 108.05 115.95 108.80 109.60 108.85 119.50 2.20
-2.94 -5.40 5.06 19.35 -7.52 -10.49 -3.35 7.31 -6.17 0.74 -0.68 9.78 1.88
116.15 121.95 113.05 119.40 113.65 120.30 119.55 125.55 140.35 137.05 159.60 134.80 15.30
-2.80 4.99 -7.30 5.62 -4.82 5.85 -0.62 5.02 11.79 -2.35 16.45 -15.54 12.80
159.60 150.50 151.00 145.10 136.55 148.10 149.00 152.90 163.35 156.55 160.15 160.05 25.25
18.40 -5.70 0.33 -3.91 -5.89 8.46 0.61 2.62 6.83 -4.16 2.30 -0.06 18.73
167.10 164.70 156.25 156.55 164.95 166.70 147.70 147.55 145.20 138.15 137.25 140.20 -19.85
4.40 -1.44 -5.13 0.19 5.37 1.06 -11.40 -0.10 -1.59 -4.86 -0.65 2.15 -12.40
150.20 152.00 140.65 134.60 150.00 155.95 154.05 153.95 155.75 156.55 153.60 151.75 11.55
7.13 1.20 -7.47 -4.30 11.44 3.97 -1.22 -0.06 1.17 0.51 -1.88 -1.20 8.24
148.05 143.75 133.20 -18.55
-2.44 -2.90 -7.34 -12.22
2019
-0.52 0.23 1.56 3.44 -0.19 Average
2020
2017
2018
Average 0.81 -1.18 -1.27 2.11 1.73
LEAD PRICE MOVEMENT SINCE 2011
2011
2012
2013
2014
2015
2016
-3.40 1.68

12. April 2020
URL: www.kediaadvisory.com Page NoThursday, April 2, 2020 12
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