SHANGHAI, Apr. 8 (SMM) – Weak trading is expected on both LME and SHFE lead market this week, SMM lead analysts predict.
LME lead will be sensitive to the point at $ 1,680 per tonne next week. And SHFE 1605 lead may easily drop below 13,000 yuan per tonne.
Spot lead in China will likely trace SHFE lead down slightly to 13,150-13,350 yuan per tonne. Cargo holders in Shanghai and Henan will be eager to sell and widened discounts in Henan will hit Shanghai market. Lead prices will stay firm in Guangdong due to tight supply and trading should be sluggish. Operating rate at downstream lead-acid battery producers will be dampened by order, equipment and environmental protection factors. This will drive down demand for lead. As such, transactions should remain weak.
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