Shanghai Lead Prices Set for Gains on Rising Demand (2015-12-7)

Dec 7, 2015 09:49

LME lead is expected to move at USD 1,665-1,695/mt during Asian trading hours Monday.

SHANGHAI, Dec. 7 (SMM) – LME lead is expected to move at USD 1,665-1,695/mt during Asian trading hours Monday.

US non-farm payrolls beat forecast, boosting expectation for rate hike in December. Also, crude oil prices went down, weighing on lead prices.

See forecast for other base metals, please click: Volatility at Lows to Grow in Base Metal Prices This Week, SMM Says

SHFE 1602 lead moved between the 40 and 60-day moving averages and will range between RMB 12,730-12,900/mt on Dec. 7. In China’s spot market, large lead-acid battery makers ramped up production for year’s target, growing demand and thus spot lead will increase to RMB 12,950-13,100/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-7)

LME lead price forecast

SHFE lead prices

lead prices

Pb prices

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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Shanghai Lead Prices Set for Gains on Rising Demand (2015-12-7)

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