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​[Pb Price] Lead Prices Set for Continued Plunge, SMM Says

iconJul 8, 2015 18:07
Source:SMM
Lead prices may post continued plunge amid the swoon in China’s stock market and lingering Greek debt crisis, SMM research team predicts.

SHANGHAI, Jul. 8 (SMM) – Lead prices may post continued plunge amid the swoon in China’s stock market and lingering Greek debt crisis, SMM research team predicts.  

SHFE 1508 lead has fallen by 4.5% following a four-day losing streak. SMM #1 lead prices also lost 300 yuan per tonne.

“In fact, lead market fundamentals are not that bad,” SMM analyst noted, “primary lead smelter utilization rate hold low and tight raw material supply is still curbing secondary lead production.”

The culprit behind this round of slump should be growing market risk triggered by crashing Chinese stocks and the Greek debt issue. 

China has restricted short-selling of stock-index futures, and responding to this move, shorts turned their eyes to commodities. Iron ore, rebar and nickel posted sharp falls. Lead market, which is less volatile than other metals, experienced smaller declines. However, more losses are expected in lead prices with market risk on the rise.  

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

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




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