SHANGHAI, May 22 (SMM) – Lead price will advance to 17,500 yuan per tonne in peak season, and will register the lowest level at 15,000 yuan per tonne, with mainstream fluctuating at around 16,000 yuan per tonne, SMM expects. LME lead should trade at $2,100-2,350 per tonne.
Primary lead output will edg up 1.9% to 3.2 million tonnes in 2017 and secondary lead output will expand 12% to 3.32 million tonnes, compared to 2016’s level. Global lead supply will reverse to surplus of 45,000 tonnes in 2017 from deficit.
Trade price for spot lead surged to 21,825 yuan per tonne in 2016, but the price will be hard to record such high level again in 2017. But, downstream consumption will improve in the rest of year. Uncertainties, such as capitals and market sentiment, will also affect lead price.
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