SHFE Lead to Post Gains (2016-11-10)

SHANGHAI, Nov. 10 (SMM) – Attention should be on US initial jobless claims from the week ending November 4 on Thursday. LME lead should range between USD 2,135-2,155/mt on Thursday and SHFE 1701 lead will rise to RMB 16,950-17,150/mt.

In China’s domestic market, suppliers keep firm offers with bullish outlook while downstream battery producers take a wait-and-see stance, resulting in sluggish trading. Spot lead should increase by RMB 200/mt to RMB 16,850-17,000/mt on Thursday.