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

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

Price Review & Forecast 09:45:25AM May 09, 2016 Source:SMM

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 to Lack Rising Strength (2016-5-9)

Price Review & Forecast 09:45:25AM May 09, 2016 Source:SMM

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)