20% Market Players in China Expect Gains for Lead Prices This Week, SMM Survey

Published: Jun 14, 2016 09:36

Save

SMM survey of 30 Chinese lead smelters reveals that 20% of them predict that LME lead will grow above USD 1,730/mt this week and SHFE 1608 lead will break through RMB 13,000/mt.

SHANGHAI, Jun. 14 (SMM) – SMM survey of 30 Chinese lead smelters reveals that 20% of them predict that LME lead will grow above USD 1,730/mt this week and SHFE 1608 lead will break through RMB 13,000/mt.

Economic figures from US are mixed recently and this slightly weakens expectation for rate hike, boding ill for US dollar. Zinc prices extend gains and LME lead may follow zinc prices up. Concentrate supply remains tight and some smelters report troubles in sourcing raw materials. Scrap battery supply is also limited. As such, supply tightness will support lead prices.

20% investors see LME lead to fall to USD 1,660/mt this week and SHFE 1608 lead to test support at RMB 12,640/mt. In China’s spot market, trading activities remain weak after China’s Dragon Boat Festival and this fuels doubts about whether there will be high demand season this year. Inventories at downstream battery makers are large and some producers extend sales promotion, which however, is not that effective. Lead prices post rallies currently but fundamentals are still poor.

The remaining 60% industrials insiders expect lead prices to move at current levels this week with LME lead around USD 1,680-1,730/mt, SHFE 1608 lead between RMB 12,750-12,900/mt and spot lead between RMB 12,650-12,800/mt. LME lead is struggling around USD 1,700/mt for many days and will be still sensitive to movements of US dollar index and LME zinc. Demand for spot lead is pessimistic in China while smelters start cutting operation.

SHFE lead prices LME lead price forecast Pb prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47