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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)

Nov 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

LME lead will face downward pressure due to firmer dollar and fluctuate between USD 1,780-1,800/mt during Asian trading hours Friday.

Aug 5, 2016 09:27

SMM Comments

Most Lead Smelters in China Optimistic over Lead Prices This Week, SMM Survey

SMM survey of 30 Chinese lead smelters shows that 57% of them see LME lead to grow above USD 1,900/mt this week and SHFE 1609 lead will challenge RMB 13,800/mt.

Jul 26, 2016 09:39

SMM Comments

SHFE Lead to Drift Higher (2016-7-22)

SHFE 1609 lead will edge up to RMB 13,250-13,450/mt on Jul. 22.

Jul 22, 2016 09:36

SMM Comments

LME Lead to Stay on Upside Track Next Week

LME lead will remain on the upside tract next week and should test resistance at $ 1,660 per tonne, SMM predicts.

Jan 22, 2016 15:13

SMM Insight

LME Lead to Hold above Moving Average (2016-1-22)

LME lead stays above the 5 and 10-day moving averages and should move between USD 1,620-1,650/mt during Asian trading hours Friday.

Jan 22, 2016 09:32

SMM Comments

LME Lead to Challenge $ 1,630 Next Week, SMM expects

LME lead is expected to break above $ 1,630 per tonne next week due to upbeat technical indicators, SMM lead analysts reckon.

Nov 27, 2015 15:09

SMM Insight

SHFE Lead Ups 2.49% (Nov. 25, 2015)

SHFE 1601 lead gapped higher at RMB 12,540/mt during Tuesday night session responding to early day’s gains and Turkey-Russia tensions.

Nov 25, 2015 16:21

SMM Comments

SMM Lead Market Daily Review (2015-11-18)

SHFE 1601 lead started Tuesday night session at RMB 12,330/mt and then traced LME lead up to RMB 12,385/mt.

Nov 19, 2015 09:32

SMM Comments

LME Lead to Remain on Downward Track in 2016 on Strong Dollar

LME lead is predicted to fall further to $ 1,500-2,000 per tonne in 2016 on the back of strong dollar, SMM lead analysts reckon.

Nov 17, 2015 11:43

SMM Insight

SHFE Lead Falls on China's Weak PPI and CPI (Nov. 10, 2015)

SHFE1601 lead started at RMB 12,930/mt for night trading Monday and rallied slight after slipping to RMB 12,890/mt.

Nov 10, 2015 15:24

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

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