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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.

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

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