LME Lead to Remain under Pressure (2016-2-19)

Published: Feb 19, 2016 09:44 (GMT+8)

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LME lead meets strong resistance at USD 1,750/mt and should move between USD 1,715-1,745/mt during Asian trading hours Friday.

SHANGHAI, Feb. 19 (SMM) – LME lead meets strong resistance at USD 1,750/mt and should move between USD 1,715-1,745/mt during Asian trading hours Friday.

See forecast for other base metals, please click:Downward Pressures Remain in Nickel in Shanghai Market, SMM Says

Markets expect US January’s CPI to be upbeat, supporting dollar. This will weigh on lead prices. SHFE 1604 lead will fluctuate between RMB 13,300-13,550/mt on February 19. In Chinese spot market, downstream lead-acid battery makers have not fully entered market, leaving poor trading. Spot lead will trade at RMB 13,700-13,850/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-19)

LME lead prices SHFE lead prices lead price Pb prices

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

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