LME Lead to Remain at Highs (2016-1-4)

SHANGHAI, Jan. 4 (SMM) – LME lead will still trade at highs of USD 1,770-1,800/mt during Asian trading hours Monday.

Markets expect Caixin China’s final manufacturing PMI in December to improve over November’s level, improving market sentiment. Eyes will be also on Markit US December’s manufacturing PMI and ISM manufacturing index.

See forecast for other base metals, please click: Base Metal Market Starts 2016 Trading with Busy Data Calendar, SMM Reports

SHFE 1602 lead will range RMB 13,050-13,200/mt on Jan. 4 and in China’s spot market, downstream purchase will pick slightly at the beginning of Jan but will be at a slow pace. As such, spot lead will be offered at RMB 13,150-13,250/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2016-1-4)