LME Lead to Challenge Year’s Best Next Week, SMM Predicts

Published: Aug 19, 2016 13:55

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LME lead is expected to challenge the year’s best level of $ 1,916 per tonne in the coming week.

SHANGHAI, Aug. 19 (SMM) – LME lead is expected to challenge the year’s best level of $ 1,916 per tonne in the coming week with positive technical indicators, soft dollar and strong crude oil.

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Supply will grow in China’s domestic market in the coming week due to operation restart at smelters and this will post pressure on lead prices. SHFE 1610 lead may fall from 14,000 yuan per tonne.

Spot lead in China will trade at 13,800-14,000 yuan per tonne in the coming week. Smelters resume operation progressively with easing of environmental protection inspections. This will marginally increase spot supply. Downstream demand will remain stable in the high-demand period. As such, spot premiums trend to narrow due to growing supply.

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LME lead price SHFE lead prices 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.

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