LME Lead to Stay Range-Bound (2016-3-10)

Published: Mar 10, 2016 09:38

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LME lead will narrowly range USD 1,820-1,850/mt during Asian trading hours Thursday.

SHANGHAI, Mar. 10 (SMM) – LME lead will narrowly range USD 1,820-1,850/mt during Asian trading hours Thursday.

LME lead headed for losses yesterday, hurt by slip in ferrous metal market. Eyes will be on US last week’s continuing jobless claims today.

SHFE 1605 lead finds support at the 10-day moving average and should fluctuate between RMB 13,630-13,780/mt on Mar. 10 and in China’s spot market, downstream buyers expect further price falls and keep low operating rates due to shortage of orders, weighing on demand for lead. Thus, spot lead will quote at RMB 13,600-13,700/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-3-10)

LME lead price forecast SHFE lead prices Pb prices

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