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LME Lead to Trade at Highs despite Firm Dollar (2015-12-11)
Dec 11, 2015 10:07Source:SMM
LME lead should trade at highs between USD 1,685-1,720/mt during Asian trading hours Friday with support at moving averages.
SHANGHAI, Dec. 11 (SMM) – LME lead should trade at highs between USD 1,685-1,720/mt during Asian trading hours Friday with support at moving averages.
See forecast for other base metals, please click: Shanghai Base Metal Prices to Diverge, with Lead Prices Stronger, SMM Says
A series of economic figures will be released today, including China’s new RMB loans for November, US November’s month-on-month retail sale, US December’s University of Michigan CCI. Markets expect US economic figures to be upbeat and this will likely support dollar.
SHFE 1602 lead should range between RMB 12,800-13,090/mt on Dec. 11. Spot supply becomes tightened in Shanghai and Henan and downstream consumption picks up. Hence, spot lead will be offered at RMB 13,100-13,200/mt.
Key Macroeconomic Indicators for Base Metal Prices (2015-12-11)
LME lead price
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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