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

Published: Dec 1, 2015 09:30

Save

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

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

Related News

4 hours ago

CMOC: 2025 Net Profit up 50.3% YoY, Copper Production at 741,100 mt; Niobium, Cobalt, Molybdenum, and Tungsten Output Exceeded Expectations

4 hours ago

22 hours ago

INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts

According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.

22 hours ago

Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]

22 hours ago