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.