Lead Prices to Stay Firm on Positive Fundamentals, SMM Forecasts-Shanghai Metals Market

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Lead Prices to Stay Firm on Positive Fundamentals, SMM Forecasts

SMM Insight 01:40:31PM Jun 07, 2017 Source:SMM

SHANGHAI, Jun. 7 (SMM) – Base metals slumped across the board at the tail trading of June 6, while SHFE 1707 lead outperformed other metals, which held slight fluctuation.

“Positive fundamentals shore up lead prices.” SMM lead senior analyst Wang Lan says. Lead prices will stay firm in a short term in anticipation of supply shortage, demand improvement and inventory reduction, SMM expects.

When Will Copper Price Bottom out? SMM Reports

On the supply front, lead concentrate supply is tight but still ample. Primary lead output drops as environmental protections and maintenance lead to production suspensions at lead smelters. Small secondary lead smelters, closing down due to environmental checks, remain offline. Moreover, output resumption date at some large qualified secondary lead smelters in Anhui is unclear yet, tightening secondary lead supply. Secondary lead prices have reversed to premiums of 200 yuan per tonne from discounts of 300 yuan per tonne, against prices of SMM #1 lead.

Lead-Acid Battery Producers to Expand Production amid Rising Lead Price, SMM Reports

On the demand front, downstream battery producers have raised operating rates in response to improving battery demand.

For news cooperation, please contact us by email: sallyzhang@smm.cn orservice.en@smm.cn.

 

Key Words:  SHFE lead  LME lead  lead prices 

Lead Prices to Stay Firm on Positive Fundamentals, SMM Forecasts

SMM Insight 01:40:31PM Jun 07, 2017 Source:SMM

SHANGHAI, Jun. 7 (SMM) – Base metals slumped across the board at the tail trading of June 6, while SHFE 1707 lead outperformed other metals, which held slight fluctuation.

“Positive fundamentals shore up lead prices.” SMM lead senior analyst Wang Lan says. Lead prices will stay firm in a short term in anticipation of supply shortage, demand improvement and inventory reduction, SMM expects.

When Will Copper Price Bottom out? SMM Reports

On the supply front, lead concentrate supply is tight but still ample. Primary lead output drops as environmental protections and maintenance lead to production suspensions at lead smelters. Small secondary lead smelters, closing down due to environmental checks, remain offline. Moreover, output resumption date at some large qualified secondary lead smelters in Anhui is unclear yet, tightening secondary lead supply. Secondary lead prices have reversed to premiums of 200 yuan per tonne from discounts of 300 yuan per tonne, against prices of SMM #1 lead.

Lead-Acid Battery Producers to Expand Production amid Rising Lead Price, SMM Reports

On the demand front, downstream battery producers have raised operating rates in response to improving battery demand.

For news cooperation, please contact us by email: sallyzhang@smm.cn orservice.en@smm.cn.

 

Key Words:  SHFE lead  LME lead  lead prices