SHANGHAI, Jul. 3 (SMM) - LME lead will stay firm this week with price range at USD 2,270-2,310/mt, SMM expects.
SHFE 1708 lead, having low chance to slump, will also fluctuate at highs, or keep rising this week. The contract will hover at RMB 17,600-18,200/mt.
Why Lead Price Skyrockets, Ignoring Weak Fundamentals? SMM Reports
In China’s market, downstream battery producers will restart raw material purchases after financial condition eased. However, refined lead market will hold supply shortage, with low inventories at primary lead smelters and stable production at secondary lead smelters.
Primary Lead Inventory in Shanghai and Guangdong Falls, SMM Reports
As such, spot lead price is expected to rise to RMB 17,600-18,100/mt this week, with secondary refined lead price at RMB 17,400-18,000/mt.
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