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Home / Metal News / Shanghai Lead to Hold Steady (2016-1-29)

Shanghai Lead to Hold Steady (2016-1-29)

Jan 29, 2016 09:51

Eurozone CCI and US Q4 GDP will be released today.

SHANGHAI, Jan. 29 (SMM) – Eurozone CCI and US Q4 GDP will be released today. The latter is expected to drop below Q3’s, weighing on the US dollar index and in turn lending support to base metals.

LME lead is expected to move between USD 1,650-1,680/mt today. SHFE 1603 lead will strengthen to RMB 13,080-13,250/mt today.

See forecast for other base metals, please click: Shanghai Market to See Price Corrections, SMM Says

With limited supply and increasing closures at downstream producers ahead of holiday, and spot lead prices stabilize at RMB 13,350-13,450/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-29)

SHFE lead prices

LME lead prices

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

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Shanghai Lead to Hold Steady (2016-1-29)

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