SHANGHAI, Dec. 17 (SMM) – LME lead is predicted to move between USD 1,670-1,710/mt during Asian trading hours Thursday with support at the 20 and 40-day moving averages.
See forecast for other base metals, please click: No Big Impact on Base Metal Prices from US Rate Hike, SMM Says
US Fed, as widely expected, announced on Thursday to raise the range of its benchmark interest rate by 0.25 percentage points and the Fed expects a slow and gradual rate hike path, which received little reaction from base metals market.
SHFE 1602 lead should range RMB 12,900-13,050/mt on December 17 and in China’s spot market, spot supply stays tightened and downstream buyers hold a wait-and-see attitude. Thus, spot lead will trade at RMB 13,100-13,200/mt.