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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