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LME Lead to Challenge $ 1,630 Next Week, SMM expects
Nov 27, 2015 15:09Source:SMM
LME lead is expected to break above $ 1,630 per tonne next week due to upbeat technical indicators, SMM lead analysts reckon.
SHANGHAI, Nov. 27 (SMM) – LME lead is expected to break above $ 1,630 per tonne next week due to upbeat technical indicators, SMM lead analysts reckon.
See SMM Survey, Please Click:70% China Market Players Pessimistic over Lead Prices This Week, SMM survey
SHFE 1601 lead will test resistance at 12,600 yuan per tonne next week, given upside technical indicators and position opening by longs, helped by news of output cut of other metals and stock building of metal reserves by the State Reserve Bureau (SRB).
Spot lead in China should trace SHFE lead up slightly to 12,800-13,000 yuan per tonne next week.
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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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