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Home / Metal News / LME Lead to Stay on Upside Track Next Week

LME Lead to Stay on Upside Track Next Week

Jan 22, 2016 15:13

Source:SMM

LME lead will remain on the upside tract next week and should test resistance at $ 1,660 per tonne, SMM predicts.

SHANGHAI Jan. 22 (SMM) – LME lead will remain on the upside tract next week and should test resistance at $ 1,660 per tonne, SMM predicts.

LME lead posts gains this week and moves at highs on Friday.

SHFE 1603 lead fell below the 20-day moving average again in response to crude prices and Chinese shares and faced weakness. But the contract fluctuates between moving averages, leaving little downside room in sight for the contract. Thus, SHFE 1603 lead will range 12,500-12,900 yuan per tonne.

Spot lead in China will fall modestly to 13,050-13,250 yuan per tonne due to growing supply and weakening demand.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn

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Eyes should be on US dollar index on Wednesday. LME lead will move at USD 2,140-2,180/mt on Wednesday and SHFE 1706 lead will fluctuate between RMB 15,800-16,350/mt.

Apr 26, 2017 09:19

SMM Comments

LME Lead to Move in a Tight Range (2017-4-26)

Global Lead Supply Reverse to Surplus in February 2017

International Lead and Zinc Study Group (ILZSG) issued on Apr. 12 that global lead market had an 11,700 tonnes of surplus in February.

Apr 13, 2017 14:25

SMM Insight

Global Lead Supply Reverse to Surplus in February 2017

SHFE Lead to Stabilize (2017-4-10)

LME lead will move at USD 2,230-2,300/mt on Monday and SHFE 1705 lead will stabilize 16,200-17,000/mt at RMB after a sharp decline.

Apr 10, 2017 09:18

SMM Comments

LME Lead to See Range-Bound Trading (2017-4-7)

LME lead will be weighed by the 20-day moving average and move at USD 2,260-2,310/mt on Friday and SHFE 1705 lead will fluctuate between RMB 17,200-17,600/mt.

Apr 7, 2017 09:41

SMM Comments

LME Lead to See Range-Bound Trading (2017-4-7)

LME Lead to Move in a Tight Range (2017-3-31)

LME lead will fluctuate between USD 2,300-2,370/mt and SHFE 1705 lead will move at RMB 17,000-17,600/mt.

Mar 31, 2017 09:33

SMM Comments

LME Lead to Move in a Tight Range (2017-3-31)

LME Lead to See Range-Bound Trading (2016-9-19)

LME lead is expected to range between USD 1,925-1,945/mt on Monday and SHFE 1610 lead will move at RMB 13,950-14,150/mt.

Sep 19, 2016 09:44

SMM Comments

SHFE Lead to Remain on the Upward Track (2016-9-2)

LME lead is predicted to range between USD 1,930-1,950/mt on Friday and SHFE 1610 lead to move at RMB 14,400-14,600/mt.

Sep 2, 2016 10:05

SMM Comments

LME Lead to Move in a Tight Range (2016-8-15)

LME lead will narrowly range USD 1,825-1,845/mt during Asian trading hours Monday.

Aug 15, 2016 09:10

SMM Comments

SHFE Lead Ends with Losses (2016-8-12)

SHFE 1609 lead started at RMB 13,835/mt and moved around RMB 13,805/mt. The price later fell back from a high of RMB 13,860/mt and finally ended at RMB 13,805/mt, down RMB 30/mt or 0.22%.

Aug 12, 2016 16:47

SMM Comments

LME and SHFE lead to Hover at Highs Next Week, SMM Says

With positive technical indicators and expectation for loose macro environment, both LME and SHFE lead should move at highs next week, SMM lead group predict.

Jul 1, 2016 15:48

SMM Insight

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LME Lead to Stay on Upside Track Next Week

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