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SMM Lead Price Forecast (2-3 May, 2013)

Release time:2013-04-29

Apr 28, 2013 02:22 GMT   Source:SMM

Summary:SHFE 1306 lead contract prices also rose from RMB 13,830/mt to RMB 13,900/mt in the past week.

 

SHANGHAI, Apr. 28 (SMM) – SHFE 1306 lead contract prices also rose from RMB 13,830/mt to RMB 13,900/mt in the past week, but the increase was limited by weak domestic stock markets.
 
In China’s domestic spot markets, some downstream buyers had already completed pre-holiday stock building, leaving trading thin for the week. Smelters were still unwilling to move goods since prices were below costs, but some experiencing tight cash flows or inventory pressures sold a limited amount of goods. Supply was also down noticeably with traded prices at RMB 13,650-13,800/mt. There are only two trading days in China next week. Downstream lead demand will unlikely improve significantly since the high-demand season for lead-acid batteries has not yet arrived fully. Selling interest at smelters will be low since financial pressures will ease in early May. Spot lead prices will be primarily influenced by LME lead prices during the May Day holiday.