Lead, the fourth most-used metal worldwide, has the largest applications in batteries and communications. The metal can be recycled indefinitely without losing its properties, with such recycled metal accounting for more than 60 per cent of the total production. After starting the year 2016 at less than $1600 per metric tonne, lead prices had underperformed the other base metals for most part of 2016, but lead prices took a dramatic turn in the last quarter of CY2016 due to shortage of the metal in China as a result of mine closures. The US Geological Survey also notes that supply was further constrained by mine closures in Australia and reduced US output. In addition, the metal benefited from seasonal battery demand, which increased the market’s appetite for the metal.