SHANGHAI, Nov. 27 (SMM) –LME lead will range between USD 1,625-1,655/mt during Asian trading hours Friday.
US financial market will be closed three hours earlier on Friday and market sentiment keeps wary. Base metals prices will seek support from output cut news.
See forecast for other base metals, please click: Short-Covering Strength to Wane, with Aluminum and Nickel Stronger, SMM Says
SHFE 1601 lead will test resistance at RMB 13,000/mt on November 27 with resistance at the 40 and 60-day moving averages currently. In China’s spot market, downstream demand remains weak and trades will be limited late this month. Spot lead will quote at RMB 12,900-13,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2015-11-27)
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