SHANGHAI, Dec. 30 (SMM) – LME lead should trade at highs of USD 1,740-1,770/mt during Asian trading hours Wednesday.
A series of economic figures are due for release today, including Germany’s retail sales in November and US last week’s crude oil inventories. Market turns cautious at year’s end.
See forecast for other base metals, please click: Diverging Trends Expected in Base Metal Market, SMM Says
SHFE 1602 returns above all moving averages and will range RMB 13,050-13,200/mt on Dec. 30. Trading activities were limited in Chinese market at year’s end and spot lead should grow by RMB 50/mt to RMB 13,150-13,250/mt.