SMM Lead Price Forecast (Apr. 23-27)

SHANGHAI, Apr. 23 (SMM) – Last week, SHFE lead prices, influenced by rising domestic stock markets, rose to RMB 15,750/mt, up from an early-week low of RMB 15,530/mt. This week, SHFE lead prices may move between RMB 15,570-15,780/mt.

China’s domestic spot lead prices were mainly in the RMB 15,550-15,680/mt range, with only Yunyue brand from Gejiu region quoted lower between RMB 15,470-15,510/mt. Smelters maintained normal sales, but downstream buyers only purchased on an as-needed basis and showed little interest in low-priced goods. This week, quotations for branded lead should be between RMB 15,600-15,750/mt, close to SHFE lead prices. With lead prices beginning to stabilize and cash flow issues growing as the end of the month nears, smelters and dealers will become more active moving goods. However, buying interest from downstream enterprises will not likely improve during the slow-demand season, especially since electric vehicle orders remain sluggish.