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Home / Metal News / LME Lead Still Faces Pressure from Firm Dollar (2015-11-23)

LME Lead Still Faces Pressure from Firm Dollar (2015-11-23)

iconNov 23, 2015 10:04
Source:SMM
LME lead is expected to move between USD 1,575-1,600/mt during Asian trading hours on the back of firm dollar.

SHANGHAI, Nov. 23(SMM) - LME lead is expected to move between USD 1,575-1,600/mt during Asian trading hours Monday on the back of firm dollar.

See forecast for other base metals, please click: Base Metal Prices to See Bigger Volatility at Lows, SMM Says

SHFE 1601 lead will move at lows between RMB 12,100-12,270/mt on Nov. 23 with shorts gathering strength. In China’s spot market, demand stays weak and some lead producers hold price firm. Hence, spot lead should grow to RMB 12,650-12,800/mt.

Markets will focus on economic figures from US this week, including November’s Markit manufacturing PMI and University of Michigan CCI, October’s existing home sales and durable goods orders. Some of those figures should be disappointing. But US dollar is predicted to remain at highs this week.

Key Macroeconomic Indicators for Base Metal Prices (2015-11-23)   


LME lead price forecast
SHFE lead price
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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