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Home / Metal News / LME Lead to Face Downward Pressure from Firmer Dollar (2016-5-23)

LME Lead to Face Downward Pressure from Firmer Dollar (2016-5-23)

May 23, 2016 09:31

Source:SMM

LME lead will remain under downward pressure and will range USD 1,660-1,680/mt during Asian trading hours Monday.

SHANGHAI, May 23 (SMM) – LME lead will remain under downward pressure and will range USD 1,660-1,680/mt during Asian trading hours Monday.

US annualized April existing home sales issued last Friday turns out to be positive and this raises bets for rate hike in June. US dollar will thus hold strong in short term.

SHFE 1607 lead will move between RMB 12,600-12,750/mt on May 23. In China’s spot market, inventories pile up at downstream battery producers, who hence takes a wait-and-see stance. Spot lead should trade at RMB 12,650-12,800/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-23)

LME lead price forecast

SHFE lead prices

Pb prices

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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Lead price in China’s market has been rising since the beginning of 2016, and SHFE 1612 lead, the most active one, advanced to its daily upward limit on Oct. 25, the highest level since October 16, 20

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

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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

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

LME and SHFE lead to Hover at Highs Next Week, SMM Says

With positive technical indicators and expectation for loose macro environment, both LME and SHFE lead should move at highs next week, SMM lead group predict.

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SMM Insight

LME Lead to Stay Range-Bound (2016-5-13)

LME lead will narrowly range USD 1,700-1,720/mt during Asian trading hours Friday.

May 13, 2016 09:15

SMM Comments

97% China Lead Smelters Pessimistic over Lead Prices This Week, SMM Survey

SMM survey of 30 Chinese lead producers finds that 97% of them see LME lead to fall below USD 1,700/mt this week and SHFE 1607 lead to test support at RMB 12,700/mt.

May 10, 2016 10:14

SMM Comments

SHFE Lead Grows 0.43% (Mar. 4, 2016)

SHFE lead opened higher at RMB 13,885/mt overnigh before ranging RMB 13,845-13,945/mt, to end at RMB 13,870/mt, up RMB 40/mt or 0.29%.

Mar 4, 2016 19:08

SMM Comments

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

Shanghai Lead to Stay High (2016-2-2)

The market will lack important macroeconomic news today. LME lead is expected to remain high between USD 1,720-1,750/mt today.

Feb 2, 2016 10:12

SMM Comments

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LME Lead to Face Downward Pressure from Firmer Dollar (2016-5-23)

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