SHANGHAI, Jan. 29 (SMM) – Eurozone CCI and US Q4 GDP will be released today. The latter is expected to drop below Q3’s, weighing on the US dollar index and in turn lending support to base metals.
LME lead is expected to move between USD 1,650-1,680/mt today. SHFE 1603 lead will strengthen to RMB 13,080-13,250/mt today.
See forecast for other base metals, please click: Shanghai Market to See Price Corrections, SMM Says
With limited supply and increasing closures at downstream producers ahead of holiday, and spot lead prices stabilize at RMB 13,350-13,450/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-1-29)