Lead/Lead, leading a of ups downs in HI, expected to hold firm in H2

摘要

Lead moved in a quite big range in the first half of 2004, far from the quiet performance maintained for years. Over several rounds of ups and downs in market, it had industrial players lose awareness of its direction. Of course, metals market movement is largely related to the fundamentals, but also strongly influenced by exchange rate of US dollars. In HI, there are significant changes in consumption pattern of refined lead in Europe, USA and Asia, bringing more uncertainty to the markets. It is expected that lead might consolidate at high price levels in the later half of 2004.