SHANGHAI, Jan. 12(SMM) – LME lead will face weakness and move between USD 1,580-1,610/mt during Asian trading hours Tuesday.
See forecast for other base metals, please click: Price Weakness to Continue in Shanghai Market, SMM Says
Market sentiment will be dragged down by Chinese shares and crude oil prices and lead prices should face upside pressure amid bearishness.
SHFE 1603 lead should range RMB 12,500-12,750/mt on Jan. 12 and Chinese downstream buyers build some stocks and overall supply stays insufficient. But medium and small buyers plan to take vacation ahead of schedule and supply and demand are left balanced. Spot lead will trade at RMB 12,950-13,050/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-1-12)
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