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LME Lead to Underperform SHFE Lead (2016-4-1)
Apr 1,2016 09:25
CSTprice review forecast
Source:SMM
SHFE 1605 lead will be slow to fall compared with LME lead and should range RMB 13,150-13,300/mt on Apr. 1.
SHANGHAI, Apr. 1 (SMM) – SHFE 1605 lead will be slow to fall compared with LME lead and should range RMB 13,150-13,300/mt on Apr. 1 while LME lead will hover between USD 1,700-1,725/mt during Asian trading hours Friday.
Attention is turning to US non-farm payrolls for March, which are expected to be lower than previous level. In China, downstream consumption will not pick up in short term and buyers expect price falls in spot lead with slipping SHFE lead. As such, spot lead will trade at RMB 13,350-13,450/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-1)
LME lead price forecast
SHFE lead prices
Pb prices
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