SHANGHAI, Apr. 11 (SMM) – Attention should be on meet between China’s Chairman and US’s President on Tuesday. LME lead will fluctuate between USD 2,230-2,380/mt on Tuesday and SHFE 1705 lead will move at RMB 16,200-16,800/mt.
In China’s domestic market, traders rush to sell goods while market players take wait-and-see stance. Lead smelters cut output for maintenance and downstream battery producers purchase based on orders, leading to sluggish supply and demand. Spot lead should drop RMB 200/mt and trade at RMB 16,450-16,550/mt on Tuesday.