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Home / Metal News / LME Lead to Keep Rising Momentum This Week, SMM Foresees

LME Lead to Keep Rising Momentum This Week, SMM Foresees

May 2, 2017 14:42

Source:SMM

LME lead will keep upward momentum this week, but the growth will slow down. SHEF 1706 lead will lack rising strength this week, hurt by quiet transaction in spot market.

SHANGHAI, May 2 (SMM) - LME lead will keep upward momentum this week, but the growth will slow down, SMM foresees, the conytact will trade at USD 2,170-2,250/mt.

SHEF 1706 lead will lack rising strength this week, hurt by quiet transaction in spot market. SMM expects SHFE 1706 lead to fluctuate at previous range level of RMB 15,900-16,500/mt this week.

As off-season is expected to continue, traders will give offers as usual while downstream battery producers will purchase based on orders and take wait-and-see stance. Demand and supply will remain poor, and transaction will not improve. Spot lead should trade at RMB 15,800-16,250/mt this week.

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