SHANGHAI, Dec. 15 (SMM) – With rise in longs and upbeat technical indicators, LME lead should move at highs USD 1,715-1,740/mt during Asian trading hours Tuesday.

See forecast for other base metals, please click: Diverging Trends to Intensify in Base Metal Market, SMM Says

SHFE 1602 lead finds support at the 5-day moving average and will range RMB 13,000-13,150/mt on Dec. 15. Spot supply remains tight in China while on the other hand, downstream large buyers show growing interest in buying but demand from SMEs stays weak. Spot lead should trade RMB 13,100-13,250/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2015-12-15)