SHFE Lead to Strengthen on Improving Fundamentals

SHANGHAI, Mar 20 (SMM) – In terms of SHFE lead, maintenance and environmental protection checks tightened the supply of secondary lead, and the impact has spilled over into the primary lead market. Most smelters reported low inventories, which shore up SHFE lead prices. The supply of lead ingots has not yet recovered. The social inventory of lead ingots is expected to decline after deliverable brand goods are withdrawn from warehouses, also bolstering SHFE lead prices. The prices of the most-traded SHFE lead contract are expected to move between 15,150-15,450 yuan/mt this week.