Tel:86-663-8899788
Fax:86-663-8899799
Welcome to www.oaksteel.cn
Home > News > Chinese Lead prices may bounce back in Q4 after a short term correction
Chinese Lead prices may bounce back in Q4 after a short term correction
Form: SMM     AddTime:2015-5-21 11:51:55    Hits:705
Chinese lead prices will experience a correction in the short term but rally again in the fourth quarter, SMM analyst Zhu Rongrong said at the 2015 SMM Lead&Zinc Summit May 13-15.

With Chinese smelters resuming production and demand downstream waning, lead prices will face a correction following rapid climbs earlier, Zhu explained at the meeting.

However, she predicted that lead market will witness a 36,000-ton deficit this year which may allow prices to rise again in Q4.

Lead inventories in Shanghai and Guangdong have fallen to about 110,000 tons in May, a low last seen in 2012, SMM data indicate.

“We see China’s spot lead prices to move at 13,000-14,200 yuan per tonne this year, and London Metal Exchange lead at $1,900-2,200 per ton,” Zhu said.