Weekly Forecast for Chinese Spot Lead Market (Apr 10-14, 2023)

SHANGHAI, Apr 10 (SMM) – Spot lead prices are expected to trade between 15,050-15,300 yuan/mt this week. In terms of primary lead, smelter maintenance and delivery to SHFE warehouses will reduce lead ingots available in the spot market, especially deliverable brand primary lead, which will allow its prices to trade basically the same as or slightly higher than SHFE front-month lead contract. As regarding secondary lead, growing supply may cause its discounts to expand. Lead-acid battery manufacturers will restock only as needed amid deepening off-season. They may prefer secondary lead if lead prices rise.