LME Lead to Move around $ 1,700 per tonne Next Week, SMM says

SHANGHAI, Sept. 25 (SMM) – LME lead is expected to move around $ 1,700 per tonne next week, SMM lead analysts predict.

On the SHFE market, lead is likely to fluctuate between 13,150-13,300 yuan per tonne. Technical indicators give positive signal. But there are only 3 trading days and investors will keep wary.

Spot lead is predicted to trade flat at 13,250-13,400 yuan per tonne. Downstream large producers should cut some purchase next week with stocks built this week. And mid-sized and small lead-acid battery makers will take holidays, cutting demand. At the same time, some lead smelters plan to execute maintenance during the week-ling holiday and thus will move limited goods out before holiday. It takes time for supply tightness to be eased in Henan and Hunan. As such, overall shortfall in supply will support lead prices. 

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