SHANGHAI, Jul. 30 (SMM) – Last week, SHFE lead prices hit a low of RMB 14,705/mt last week and mainly moved between RMB 14,700-14,900/mt. SHFE lead prices should be stable and between RMB 14,750-15,000/mt.
In China’s domestic spot markets, lead prices were generally below RMB 15,000/mt last week, except for several well-known brands. Some smelters were more willing to move goods due to the urgent need for cash at the month’s end. Supply for branded lead increased since more goods were supplied from warehouses. Downstream enterprises purchased as needed, leaving trading modest. Prices for branded lead should be RMB 14,850-15,100/mt this week, with premiums of RMB 100-150/mt over the most active SHFE lead contract price. Selling interest among smelters may improve as lead prices rise. Downstream replenishment is also expected to grow, lifting transactions.