SHANGHAI, Jan. 15 (SMM) – LME lead will face more weakness and should move between $ 1,590-1,640 per tonne next week, SMM lead analysts forecast.
Strong rising momentum will be lacked for LME lead with poor reading of technical indicators.
SHFE 1603 lead is forecast to range 12,600-12,900 yuan per tonne due to resistance at 12,900 yuan per tonne. SHFE lead will remain more resistant to declines than LME lead.
Spot lead in China should register a small fall to 12,900-13,150 yuan per tonne on the back of growth in supply and weakening of demand.
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