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Home / Metal News / LME Lead to Seek Support from Oil Prices (2016-5-18)

LME Lead to Seek Support from Oil Prices (2016-5-18)

May 18, 2016 09:23

Source:SMM

Rising oil prices will slow declines in LME lead and LME lead will narrowly range USD 1,710-1,730/mt during Asian trading hours Wednesday.

SHANGHAI, May 18 (SMM) – Rising oil prices will slow declines in LME lead and LME lead will narrowly range USD 1,710-1,730/mt during Asian trading hours Wednesday.

Reduction in US EIA crude oil inventories may improve the prior week’s level in the week ending May 15. This should push up oil prices challenge USD 50/bbl.

SHFE 1607 lead will drop to RMB 12,850-13,000/mt on May 18. In China’s spot market, downstream demand stays weak and smelters are active in selling, leaving supply ample. Spot lead should trade at RMB 12,800-12,950/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-18)

LME lead prices

SHFE lead prices

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LME lead is predicted to range between USD 1,930-1,950/mt on Friday and SHFE 1610 lead to move at RMB 14,400-14,600/mt.

Sep 2, 2016 10:05

SMM Comments

SHFE Lead Prices Up 3.97% (2016-9-1)

SHFE 1610 lead started at RMB 13,965/mt and ended at RMB 14,420/mt, up RMB 550/mt or 3.97%.

Sep 1, 2016 17:44

SMM Comments

33% Market Players Negative Toward Lead Prices This Week, SMM Surveys

SMM survey of 30 Chinese lead smelters reveals that 33% of them see LME lead to drop below USD 1,843/mt this week and SHFE 1610 lead to fall below RMB 13,500/mt and test the 60-day moving average.

Aug 30, 2016 08:39

SMM Comments

SHFE Lead Prices Up 0.07% (2016-8-26)

SHFE 1610 lead started at RMB 13,945/mt and ended at RMB 13,960/mt, up RMB 10/mt or 0.07%.

Aug 26, 2016 17:11

SMM Comments

LME Lead to Move in a Tight Range (2016-8-15)

LME lead will narrowly range USD 1,825-1,845/mt during Asian trading hours Monday.

Aug 15, 2016 09:10

SMM Comments

SHFE Lead Ends Higher (2016-7-29)

SHFE 1609 lead started at RMB 13,675/mt and then rose to previous level of RMB 13,750/mt. The contract ended at RMB 13,775/mt, up RMB 85/mt or 0.62%.

Jul 29, 2016 17:42

SMM Comments

SHFE Lead Closes with 1.23% Losses (2016-7-28)

SHFE 1609 lead started at RMB 13,715/mt and then moved stably. But the contract fell by RMB 100/mt at the tail of trading before finally ending at RMB 13,605/mt, down RMB 170/mt or 1.23%.

Jul 28, 2016 17:33

SMM Comments

LME Lead to Ease from Softer Dollar (2016-7-28)

LME lead will range between USD 1,785-1,805/mt during Asian trading hours Thursday.

Jul 28, 2016 09:32

SMM Comments

Shanghai Lead to Maintain Upward Momentum (2016-2-1)

Official and Caixin’s January PMI for China to be released today are expected to be lower than December’s.

Feb 1, 2016 09:58

SMM Comments

LME Lead to Hold above Moving Average (2016-1-22)

LME lead stays above the 5 and 10-day moving averages and should move between USD 1,620-1,650/mt during Asian trading hours Friday.

Jan 22, 2016 09:32

SMM Comments

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LME Lead to Seek Support from Oil Prices (2016-5-18)

SMM Events & Webinars

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage

2025 SMM (20th) Lead & Zinc Conference and Industry Expo