SHANGHAI, May 27 (SMM) – LME lead is forecast to consolidate at $ 1,660 per tonne next week, SMM lead group reckon.
and SHFE 1607 lead should fluctuate around 12,750 yuan per tonne. Spot lead in China may stabilize at 12,650-12,850 yuan per tonne.
Downstream consumption will stay unchanged and supply will tighten in market. Smelters report troubles in sourcing raw materials with limited imports. Supply pressure eases slightly in Henan after delivery of goods to SHFE warehouses and local smelter are bullish towards lead prices. This will narrow local spot discounts.
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