Weakness ahead for LME Lead (2016-2-25)

Published: Feb 25, 2016 09:34

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LME lead faces downside pressure and will move between USD 1,695-1,720/mt during Asian trading hours Thursday.

SHANGHAI, Feb. 25 (SMM) – LME lead faces downside pressure and will move between USD 1,695-1,720/mt during Asian trading hours Thursday.

Eyes are turning to US durable goods orders and UK GDP figure and economic figures from US should be mixed. Thus, US dollar index should stabilize today.

SHFE 1604 lead is predicted to range RMB 13,480-13,640/mt on Feb. 25 and in Chinese spot market, lead producers are eager to sell, growing supply. On the other hand, downstream buyers take a wait-and-see stand, leaving transactions muted. Spot lead prices should trace SHFE lead up slightly to RMB 13,750-13,900/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-25)

LME lead price forecast SHFE lead prices lead price Pb prices

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