LME Lead to Hold around $ 1,800 per tonne Next Week

Oct 16, 2015 15:29

LME lead is expected to still move around $1,800 per tonne next week, SMM lead analyst predicts.

SHANGHAI, Oct. 16 (SMM) – LME lead is expected to still move around $1,800 per tonne next week, SMM lead analyst predicts.

LME lead finds support at the 5-day moving average and net long positions increase to 2,906 in the week ending October 9.

SHFE 1512 lead is likely to test support at 13,400 yuan per tonne next week on the back of downbeat technical indicators.

Chinese spot lead prices should fall to 13,400-13,550 yuan per tonne next week because of growing supply and slipping demand.

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LME lead price forecast

SHFE lead prices forecast

spot lead price forecast

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LME Lead to Hold around $ 1,800 per tonne Next Week

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