SMM Lead Weekly Price Review and Forecast (Mar. 16-20, 2015)

Published: Mar 17, 2015 11:27

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SHFE 1505 lead contract underperformed LME lead at the beginning of last week and moved at RMB 12,200-12,300/mt.

SHANGHAI, Mar. 17 (SMM) – SHFE 1505 lead contract underperformed LME lead at the beginning of last week and moved at RMB 12,200-12,300/mt, but started rising on Wednesday to climb above RMB 12,300/mt. SHFE 1505 lead contract prices are expected at RMB 12,300-12,450/mt and test resistance at RMB 12,450/mt.

Spot lead trading in China showed some improvement last week. Limited supply of branded goods in Shanghai left prices in the region RMB 100/mt higher than those in Henan. Thus, some downstream buyers preferred to purchase from Henan. However, tight cash supply and sizeable inventories prevented downstream producers from buying in large amounts.

SHFE lead

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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