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Home / Metal News / SMM Lead Weekly Price Review and Forecast (May 11-15, 2015)

SMM Lead Weekly Price Review and Forecast (May 11-15, 2015)

May 11, 2015 18:05

Source:SMM

SHFE 1507 lead suffered a sell-off after climbing above RMB 14,000/mt. The contract later dropped back to RMB 13,500/mt as the SMM/LME lead price ratio slipped to 6.45.

SHANGHAI, May 11 (SMM) – SHFE 1507 lead suffered a sell-off after climbing above RMB 14,000/mt. The contract later dropped back to RMB 13,500/mt as the SMM/LME lead price ratio slipped to 6.45.

Spot lead prices have fallen only RMB 200/mt. Lead smelters stayed away from the market as a small number of traders sold off hedged positions. Shanghai spot lead prices were RMB 200/mt higher than SHFE 1507 lead. Spot lead in Henan tightened with branded lead at a premium over SMM lead.

SHFE lead is expected around RMB 13,300-13,800/mt this week due to sell-offs. China’s spot lead should trade at RMB 13,600-13,900/mt this week.

SHFE lead prices

spot lead prices

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