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Home / Metal News / SHFE Lead to Face Strong Resistance (2016-3-24)

SHFE Lead to Face Strong Resistance (2016-3-24)

Mar 24, 2016 09:26

Source:SMM

SHFE 1605 lead will meet strong resistance at moving averages and thus move between RMB 13,470-13,620/mt on Mar. 24.

SHANGHAI, Mar. 24 (SMM) – SHFE 1605 lead will meet strong resistance at moving averages and thus move between RMB 13,470-13,620/mt on Mar. 24.

US dollar will likely trade at highs. LME lead will range USD 1,770-1,800/mt during Asian trading hours Thursday. In China’s spot market, spot supply stays ample while downstream purchase is poor. Spot lead will quote at RMB 13,550-13,650/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-3-24)

SHFE lead prices

LME lead price forecast

Pb prices

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SMM survey of 30 Chinese lead smelters reveals that 33% of them see LME lead to drop below USD 1,843/mt this week and SHFE 1610 lead to fall below RMB 13,500/mt and test the 60-day moving average.

Aug 30, 2016 08:39

SMM Comments

SHFE Lead to Continue Outperforming LME Lead Next Week, SMM Expects

LME lead will be weaker than SHFE lead next week. LME lead will likely seek support from sister metal zinc and should struggle around $ 1,800 per tonne.

Aug 5, 2016 16:51

SMM Insight

SHFE Lead to Move Higher (2016-7-13)

SHFE 1609 lead will increase to RMB 13,200-13,400/mt on Jul. 13.

Jul 13, 2016 09:12

SMM Comments

LME Lead to Lack Rising Strength (2016-6-13)

LME lead will see no upward momentum and will range USD 1,690-1,710/mt on Monday.

Jun 13, 2016 09:50

SMM Comments

LME Lead to Stay Range-Bound (2016-6-1)

LME lead will narrowly range USD 1,685-1,705/mt during Asian trading hours Wednesday.

Jun 1, 2016 09:39

SMM Comments

LME Lead to Face Downward Pressure from Firmer Dollar (2016-5-23)

LME lead will remain under downward pressure and will range USD 1,660-1,680/mt during Asian trading hours Monday.

May 23, 2016 09:31

SMM Comments

LME Lead to Stay Range-Bound (2016-5-13)

LME lead will narrowly range USD 1,700-1,720/mt during Asian trading hours Friday.

May 13, 2016 09:15

SMM Comments

64% China Lead Producers Expect Stability for Lead Prices This Week, SMM Survey

SMM survey of 30 Chinese lead producers reveals that 64% of them expect lead price to move in current level this week.

Mar 1, 2016 08:49

SMM Comments

LME Lead to Struggle around $ 1,700 Tonne Next Week

LME lead will likely struggle around $ 1,700 per tonne next week, SMM predicts.

Feb 26, 2016 15:50

SMM Insight

SHFE Lead to Outperform LME Lead (2016-2-22)

SHFE 1604 lead should outperform LME lead on Monday and will move between RMB 13,530-13,700/mt today.

Feb 22, 2016 09:48

SMM Comments

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SHFE Lead to Face Strong Resistance (2016-3-24)

SMM Events & Webinars

Indonesia Critical Minerals Conference & Expo 2025

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