SHANGHAI, May 4 (SMM) – SHFE 1606 lead will stay weak and move between RMB 13,200-13,350/mt on May 4.
US April ISM non-manufacturing index should improve over March, supporting dollar. And markets expect EIA crude oil inventories to be positive in the week ending May 1, boding well for oil prices. LME lead will move in a narrow range of USD 1,760-1,780/mt during Asian trading hours Wednesday. Downstream purchase stays gloomy and trading is quiet. Spot lead should trade at RMB 13,150-13,250/mt today.