LME Lead to Move in a Tight Range Next Week amid Mixed News

SHANGHAI, Dec. 4 (SMM) – LME lead is expected to move between $ 1,630-16,80 yuan per tonne next week on the back of mixed news.

See SMM Survey, Please Click:43% China Lead Producers Optimistic over Lead Prices This Week, SMM survey

Base metals prices are still under pressure from US dollar while market will continue digesting news of

output cut of other metals and stock-piling by the SRB. Besides, LME lead outperformed others in this past week.

SHFE 1602 lead will remain strong at 12,500-12,850 yuan per tonne next week due to support at 12,600 yuan per tonne, rise in longs and upbeat technical indicators.

Spot lead in China is predicted to grow to 12,900-13,100 yuan per tonne next week because of output cut in Henan. 

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