Home / Metal News / LME Lead to Face Weakness amid Bearishness (2016-1-21)

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

iconJan 21, 2016 10:10
Source:SMM
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

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All