SHFE Lead Faces Strong Pressure (2015-11-26)

Published: Nov 26, 2015 09:46

Save

SHFE 1601 lead faces strong resistance at the 20-day moving average and will range between RMB 12,400-12,600/mt.

SHANGHAI, Nov. 26 (SMM) –SHFE 1601 lead faces strong resistance at the 20-day moving average and will range between RMB 12,400-12,600/mt.

The Russian-Turkey tension persists and lead prices get boost from crude oil prices. US financial market is closed on Thursday due to the Thanks Giving Day holiday.

See forecast for other base metals, please click:Base Metals Close with Gains Despite Strong Dollar, SMM Says

LME lead will hover between USD 1,590-1,620/mt during Asian trading hours Thursday. In China, spot supply declines due to transport disruption in Henan, hurt by local snowy weather. On the other hand, downstream buyers purchase to need. Hence, spot lead will grow to RMB 12,800-12,900/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-11-26)

SHFE lead price LME lead price forecast Pb Price lead prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn