SHANGHAI, Jul. 24 (SMM) – LME lead, trading at lows on July 21, will keep fluctuating at current level this week with price range at $2,200-2,235 per tonne, SMM expects.
SHFE 1708 lead will trade at 17,200-17,650 yuan per tonne.
Primary lead supply is tight for spot transaction. Small secondary lead smelters have closed down due to environmental checks, and output at large smelters is also restricted by high temperature. Refined lead market thus reports supply shortage, but downstream demand sees no significant improvement.
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