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Home / Metal News / SHFE Lead to Weaken Further (2016-5-4)

SHFE Lead to Weaken Further (2016-5-4)

May 4, 2016 09:32

Source:SMM

SHFE 1606 lead will stay weak and move between RMB 13,200-13,350/mt on May 4.

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.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-4)

SHFE lead prices

LME lead price forecast

Pb prices

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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

Shanghai and Guangdong See Largest Lead Inventory Growth in 5 Years

Primary lead inventories in Shanghai and Guangdong grew by nearly 10,000 tonne from the Chinese New Year holiday to this week.

Feb 19, 2016 17:01

SMM Insight

56% China Lead Producers Expect Lead Prices to Stabilize This Week, SMM Survey

56% of Chinese lead smelters see lead prices to move in current range this week with LME lead between USD 1,800-1,850/mt and spot lead around RMB 14,000/mt.

Feb 16, 2016 16:17

SMM Comments

LME Lead to Stay Range-Bound (2016-2-16)

LME lead will move in a tight range of USD 1,820-1,850/mt during Asian trading hours Tuesday with support at the 5-day moving average.

Feb 16, 2016 09:47

SMM Comments

LME Lead to Remain at Highs (2016-1-4)

LME lead will still trade at highs of USD 1,770-1,800/mt during Asian trading hours Monday.

Jan 4, 2016 09:59

SMM Comments

Further Downside Room in Sight for LME Lead Next Week

LME lead enters downside track with exit of longs and will put support at $ 1,600 per tonne in check next week, SMM predicts.

Dec 18, 2015 15:11

SMM Insight

LME Lead to See Small Upside Room Next Week, SMM says

Any big gains in LME lead will be curbed by firmer dollar next week and LME lead should trade at highs $ 1,680-1,735 yuan per tonne despite upbeat technical indicators.

Dec 11, 2015 15:42

SMM Insight

SHFE Lead Resists Declines despite China Poor Data (Dec. 8, 2015)

SHFE 1602 lead once lurched up to RMB 13,025/mt after opening Monday night trading session at RMB 13,000/mt.

Dec 8, 2015 16:31

SMM Comments

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SHFE Lead to Weaken Further (2016-5-4)

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

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