LME Lead 3M Extended Gains from Previous Close but Faced Resistance at Higher Price, Showing Soft to Bearish Momentum.

Highlights of Future Lead 3M price: At the end of the Asian session on 16 Apr, LME lead 3M closed at $1,955/t, down 0.58% from the previous close. Prices showed a clear intraday downtrend after opening at $1,965/t and reaching a high of around $1,970/t, indicating weak buying support and a cautious tone throughout the session, with difficulty breaking higher levels.

Highlights of Asia Lead Market: As in the off-season in the lead market, daily spot trading has slowed to a moderate pace. This is largely due to the ongoing shortage of remelted lead in SEA. Because of high financing costs, most Vietnamese smelters are keeping inventories at subdued level. In China, limited spot volumes of refined lead and lead alloys are allocated to long-term and spot orders for established customers.