SHFE Lead to Lack Rising Strength (2016-5-9)

Published: May 9, 2016 09:45

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SHFE 1607 lead will lack rising strength and will move at RMB 12,850-13,000/mt on May 9 with no improvement in fundamentals.

SHANGHAI, May 9 (SMM) –SHFE 1607 lead will lack rising strength and will move at RMB 12,850-13,000/mt on May 9 with no improvement in fundamentals.

Attention is turning to movement of US dollar and crude oil prices. LME lead will move in a narrow range of USD 1,730-1,750/mt during Asian trading hours Monday. In China’s spot market, battery producers start sales promotion activities in the off-season and show little buying interest. Spot lead should trade at RMB 12,900-13,000/mt today with stabilizing of SHFE lead.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-9)

SHFE lead prices LME lead price forecast Pb Price

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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