SHANGHAI, Nov. 20 (SMM) – LME lead will remain on the downward track next week and should test support at $ 1,540 per tonne because of overall bearishness and poor technical indicators, SMM predicts.
See SMM Survey, please click: 63% Market Players Pessimistic Over Lead Prices This Week, SMM Survey
SHFE 1601 lead is expected to test support at 11,800 yuan per tonne next week. Strong rising strength will be needed should SHFE lead post a rally.
In China, spot lead will slide to 12,500-12,700 yuan per tonne next week with overall supply basically unchanged and low buying interest.
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