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Home / Metal News / LME Lead to Test Support at $ 1,630 Next Week

LME Lead to Test Support at $ 1,630 Next Week

iconNov 6, 2015 16:10
Source:SMM
LME lead is predicted to test support at $ 1,630 per tonne next week, SMM reckons.

SHANGHAI, Nov. 6 (SMM) – LME lead is predicted to test support at $ 1,630 per tonne next week, SMM reckons.

LME lead falls below the 5-day moving average and makes no breakthrough for near half month. Besides, technical indicators signal that LME lead enters downside track.

SHFE 1512 lead should continue to test 13,000 yuan per tonne next week with technical indicators pointing downside. And SHFE lead will struggle around 12,800 yuan per tonne should SHFE 1512 lead break below 13,000 yuan per tonne.

Chinese spot lead prices should fall to 13,000-13,200 yuan per tonne next week because of growing supply.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

 

LME lead price forecast
SHFE lead prices
spot lead price forecast

For queries, please contact William Gu at williamgu@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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