LME Lead to Face Weakness amid Bearishness (2016-1-21)

Published: Jan 21, 2016 10:10

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LME lead will remain weak and will put support at USD 1,600/mt in check during Asian trading hours Thursday.

SHANGHAI Jan. 21 (SMM) – LME lead will remain weak and will put support at USD 1,600/mt in check during Asian trading hours Thursday.

See forecast for other base metals, please click: Weak Prices Expected in Shanghai Base Metal Market, SMM Says

Attention is turning to interest rate decision by ECB this evening and soft euro will perhaps support dollar. The PBOC releases liquidity onto market, which however, will not dismiss pessimistic sentiment in market.

SHFE 1603 lead slips below RMB 12,900/mt again and should range RMB 12,720-12,900/mt on Jan. 21. Supply tightness support spot lead prices in China. But SHFE lead stays weak. As such, spot lead will quote at RMB 13,050-13,200/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-21)

LME lead price forecast SHFE lead prices lead prices Pb prices

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