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.