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Home / Metal News / LME Lead Remains Strong despite Firm Dollar (2015-12-8)

LME Lead Remains Strong despite Firm Dollar (2015-12-8)

Dec 8, 2015 09:52

Source:SMM

LME lead is expected to stay strong at USD 1,665-1,695/mt during Asian trading hours Tuesday with support at the 40-day moving average and upbeat technical indicators.

SHANGHAI, Dec. 8 (SMM) – LME lead is expected to stay strong at USD 1,665-1,695/mt during Asian trading hours Tuesday with support at the 40-day moving average and upbeat technical indicators.

Crude oil prices slumped and US dollar rallied to high with Fed rate hike around the corner. Both factors weigh on lead prices.

See forecast for other base metals, please click: Shanghai Base Metal Prices to Stay Weak, SMM Says

Despite overall bearishness,SHFE 1602 lead will range between RMB 12,820-13,020/mt on Dec. 8. The contract moves above all moving averages and technical indicators points upward.

Spot lead supply heads for losses in China and secondary refined lead enjoys price advantages, attracting more buyers. On the other hand,downstream buyers still purchase as needed. Thus, spot lead will trade at RMB 13,050-13,150/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-8)

LME lead price

SHFE lead prices

Pb Price

lead prices

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SHFE 1709 lead opened at RMB 18,555/mt and closed at RMB 18,425/mt, down RMB 15/mt or 0.08%.

Aug 3, 2017 17:16

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SHFE 1709 lead opened at RMB 18,185/mt and ended at RMB 18,445/mt, up RMB 255/mt or 1.40%.

Aug 2, 2017 17:29

SMM Comments

LME Lead to Strength (2017-7-31)

LME lead will hover at USD 2,305-2,335/mt on Monday and SHFE 1709 lead will fluctuate between RMB 18,050-18,250/mt.

Jul 31, 2017 09:33

SMM Comments

Orders at Ignition Battery Producers See No Improvement, Despite of Rising End-User Demand, SMM Says

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Jul 26, 2017 17:59

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Orders at Ignition Battery Producers See No Improvement, Despite of Rising End-User Demand, SMM Says

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SHFE 1709 lead, becoming the most actively trade one, opened at RMB 17,460/mt and closed at RMB 17,645/mt, up RMB 200/mt or 1.15%.

Jul 25, 2017 17:51

SMM Comments

Primary Lead Inventory in Shanghai and Guangdong to Rally This Week, SMM Expects

Primary lead inventory in Shanghai and Guangdong inched up 400 tonnes to 29,400 tonnes last week.

Jul 24, 2017 13:23

Industry SMM Comments

Primary Lead Inventory in Shanghai and Guangdong to Rally This Week, SMM Expects

WBMS: Global Lead Supply Remains in Deficit of 172,000 Tonnes in January-May 2017

Global lead market still reported supply deficit at 172,000 tonnes in the first five months of 2017, according to World Bureau of Metal Statistics (WBMS).

Jul 20, 2017 09:41

SMM Insight Industry

WBMS: Global Lead Supply Remains in Deficit of 172,000 Tonnes in January-May 2017

SHFE Lead Hardly to Rally with Nearing of 2017 Chinese New Year, SMM Expects

SHFE lead prices dropped on January 17 after one-week fluctuation. On January 17, SHFE 1703 lead dropped RMB 735/mt or 3.88% as of 14:32.

Jan 18, 2017 13:51

SMM Insight Industry

SHFE Lead Hardly to Rally with Nearing of 2017 Chinese New Year, SMM Expects

Macquarie Hikes Forecast for Base Metals in 2017 and 2018

Macquarie raised its forecast for most base metals in the next two years, wenhua.com reported.

Dec 20, 2016 14:09

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Macquarie Hikes Forecast for Base Metals in 2017 and 2018

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LME Lead Remains Strong despite Firm Dollar (2015-12-8)

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