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Home / Metal News / SHFE Lead Finds Support from 20-Day Moving Average (2015-12-1)

SHFE Lead Finds Support from 20-Day Moving Average (2015-12-1)

Dec 1, 2015 09:30

Source:SMM

SHFE 1601 lead will find support from the 20-day moving average and move between RMB 12,600-12,750/mt on Dec. 1.

SHANGHAI, Dec. 1 (SMM) – SHFE 1601 lead will find support from the 20-day moving average and move between RMB 12,600-12,750/mt on Dec. 1.

See forecast for other base metals, please click: Shanghai Base Metals to Diverge, SMM Says

Markets will focus on China’s official PMI, Caixin manufacturing PMI and non-manufacturing PMI for November. The official PMI should improve over October’s but still stay below 50.

LME lead will range between USD 1,615-1,650/mt during Asian trading hours Tuesday. In China’s spot market, operating rate remains low at downstream SMEs and some regional smelters move goods out with widening discounts. Spot lead should trace SHFE lead up to RMB 12,850-12,950/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-1)

SHFE lead price

LME lead price forecast

Pb Price

lead prices

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

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LME lead is predicted to move between USD 2,300-2,350/mt on Friday and SHFE 1702 lead will range at RMB 20,000-20,500/mt.

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SHFE Lead Finds Support from 20-Day Moving Average (2015-12-1)

SMM Events & Webinars

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage

2025 SMM (20th) Lead & Zinc Conference and Industry Expo