LME Lead to Trade at Lows (2016-1-18)

Published: Jan 18, 2016 09:52

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LME lead should move at lows of USD 1,590-1,620/mt during Asian trading hours Monday after falling below the 5-day moving average again.

SHANGHAI Jan. 18 (SMM) – LME lead should move at lows of USD 1,590-1,620/mt during Asian trading hours Monday after falling below the 5-day moving average again.

See forecast for other base metals, please click:Price Pattern of Stronger Shanghai Prices to Change, SMM Says

Major reports are absent today. SHFE 1603 lead is more resistant to declines and the contract meets resistance at RMB 12,730/mt. Thus, the contract will range RMB 12,600-12,740/mt on Jan. 18. In Chinese spot market, spot supply tightness continues and downstream buying interest wanes. Spot lead will fall to RMB 12,950-13,100/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-18)

LME lead price forecast SHFE lead price Pb prices lead prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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