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SHFE Lead to See Range-Bound Trading (2016-10-28)
Oct 28, 2016 09:52Source:SMM
LME lead will fluctuate between USD 2,040-2,060/mt on Friday and SHFE 1612 lead is expected to swing at RMB 16,300-16,500/mt.
SHANGHAI, Oct. 28 (SMM) – Attention should be on fresh reading of US’s real GDP in Q3 on Friday, which is expected to be higher than Q2’s level. LME lead will fluctuate between USD 2,040-2,060/mt on Friday and SHFE 1612 lead is expected to swing at RMB 16,300-16,500/mt.
In China’s domestic market, trading volumes dipped sharply due to volatile SHFE 1612 lead. Downstream battery producers choose to stand sidelines for the short term, who consider prices to fall. Spot lead should trade at RMB 16,100-16,250/mt on Friday.
LME lead
SHFE lead
lead prices
For queries, please contact Michael Jiang at michaeljiang@smm.cn
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