Chinese Spot Lead Premium to Edge down (June 1-5, 2015)

May 29, 2015 16:54

Source:SMM

LME Lead soared to USD 2,000/mt, up about 3% despite growing dollar this past week and should fluctuate between USD 1,950-2,030/mt.

SHANGHAI, May 29 (SMM) - LME Lead soared to USD 2,000/mt, up about 3% despite growing dollar this past week and should fluctuate between USD 1,950-2,030/mt with stronger dollar, weaker demand and upbeat technical indicators, SMM forecasts.

SHFE 1507 lead is expected to hover between RMB 13,200-13,500/mt with resistance at RMB 13,450/mt. Falling SMM/LME lead price ratio, together with slipping longs and growing shorts, indicates that confidence weakens in SHFE lead contracts.

Spot premium should inch down gradually with reasons that first, loan repayment pressure will rise in June; second, previous primary lead smelters conducting maintenance resume production and are glad to sell; finally, low downstream lead battery producers demand eases tight supply.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

LME lead prices

SHFE lead prices

lead price forecast

SMM review & forecast

For queries, please contact William Gu at williamgu@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Chinese Spot Lead Premium to Edge down (June 1-5, 2015)

SMM Events & Webinars

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage

2025 SMM (20th) Lead & Zinc Conference and Industry Expo