LME Lead to Face Resistance (2016-3-31)-Shanghai Metals Market

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LME Lead to Face Resistance (2016-3-31)

Price Review & Forecast 09:38:11AM Mar 31, 2016 Source:SMM

SHANGHAI, Mar. 31 (SMM) – LME lead meets resistance at the 60-day moving average and will range USD 1,720-1,745/mt during Asian trading hours Thursday.

Attention is turning to US last week’s continuing jobless claims and UK Q4 GDP. SHFE 1605 lead will drop to RMB 13,250-13,400/mt on Mar. 31.

Spot supply in Yunan and Guangxi tightens while downstream demand stays weak. Spot lead will thus trade at RMB 13,450-13,550/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-31)

LME Lead to Face Resistance (2016-3-31)

Price Review & Forecast 09:38:11AM Mar 31, 2016 Source:SMM

SHANGHAI, Mar. 31 (SMM) – LME lead meets resistance at the 60-day moving average and will range USD 1,720-1,745/mt during Asian trading hours Thursday.

Attention is turning to US last week’s continuing jobless claims and UK Q4 GDP. SHFE 1605 lead will drop to RMB 13,250-13,400/mt on Mar. 31.

Spot supply in Yunan and Guangxi tightens while downstream demand stays weak. Spot lead will thus trade at RMB 13,450-13,550/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-31)