LME Lead to Stay Weak amid Bearishness (2015-11-24)

Published: Nov 24, 2015 09:56

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LME lead is predicted to move at lows between USD 1,550-1,580/mt during Asian trading hours Tuesday.

SHANGHAI, Nov. 24 (SMM) – LME lead is predicted to move at lows between USD 1,550-1,580/mt during Asian trading hours Tuesday.

See forecast for other base metals, please click: Shanghai Zinc and Lead to Outperform Others, SMM Says

Saudi Arabia government announced that it already adopted measures to stabilize crude oil prices, growing crude prices. But US dollar increased above 100, curbing base metals prices. Pessimistic sentiment prevails in market.

On the back of zinc cut news, SHFE 1601 lead will range between RMB 11,850-12,100/mt on Nov. 24. In China’s spot market, downstream buyers wait for further price falls and spot lead will settle at RMB 12,600-12,700/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-11-24)

LME lead price SHFE lead price Pb Price lead price base metal price forecast

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