SHANGHAI, May 22 (SMM) – Lead prices will rebound slightly after finding support at lows this week, SMM foresees.
LME lead will trade at $2,100-2,140 per tonne this week, and SHFE 1706 lead will move at 15,400-16,000 yuan per tonne.
Market participants are pessimistic toward lead prices, but downstream battery producers will have low-price goods replenishment demand in mid-May. Transaction will improve slightly as SHFE 1706 lead stabilizes at lows. Besides, output restriction in Henan will be continuing, shoring up lead prices.
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