China Spot Lead Prices Fall below 13,000 yuan on Firm dollar and Bearishness

Published: Nov 17, 2015 17:50

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Spot lead in China quoted at 12,750-12,850 yuan per tonne on Nov. 17, falling below 13,000 yuan per tonne for the first time since April 10, SMM reported.

SHANGHAI, Nov. 17 (SMM) – Spot lead in China quoted at 12,750-12,850 yuan per tonne on Nov. 17, falling below 13,000 yuan per tonne for the first time since April 10, SMM reported.

Expectation of US Fed’s rate hike this year is boosted, allowing dollar to maintain at 99.5. This weighs on lead prices.

Moreover, pessimistic sentiment looms Chinese market. SHFE copper fell to a six-year low, and both LME and SHFE lead posted declines, triggering bearishness.

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