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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

iconJan 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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For queries, please contact William Gu at williamgu@smm.cn

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