SMM Lead Price Forecast (Oct. 29- Nov. 2)

SHANGHAI, Oct. 29 (SMM) – SHFE lead prices fell by 2%, from RMB 15540/mt to RMB 15,300/mt last week and are expected to move between RMB 15,250-15,550/mt this week.

Spot lead prices in China fell sharply from RMB 15,400/mt to RMB 15,180/mt, with spot discounts of RMB 200/mt over the most active SHFE lead contract. Cargo holders lowered prices to promote sales at the month’s end due to financial pressures, but downstream buying interest remained low, leaving trading light. This week, smelters will be more willing to move goods as the month comes to an end, and spot lead prices are expected to be between RMB 15,100-15,350/mt.