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Home / Metal News / LME Lead to See Range-Bound Trading (2016-5-24)

LME Lead to See Range-Bound Trading (2016-5-24)

May 24, 2016 09:26

Source:SMM

LME lead will narrowly range USD 1,640-1,660/mt during Asian trading hours Tuesday.

SHANGHAI, May 24 (SMM) – LME lead will narrowly range USD 1,640-1,660/mt during Asian trading hours Tuesday.

US April home sales data should improve over March. This, coupled with hawkish statements of US Fed officials, will push up dollar, which will depress base metals prices.

SHFE 1607 lead will move between RMB 12,600-12,750/mt on May 24 in response to LME lead and ferrous metal prices. In China’s spot market, traders rush to give offers and some smelters hold back sales. Downstream demand is weak. Spot lead should trade at RMB 12,650-12,800/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-24)

LME lead price forecast

SHFE lead prices

Pb prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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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

17% China Lead Smelters Optimistic over Lead Prices This Week, SMM Surveys

SMM survey of 30 Chinese lead smelters reveals that 17% of them see LME lead to rise above the 5-day moving average and challenge USD 1,900/mt this week.

Aug 23, 2016 09:07

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 Lead to Remain at Highs (2016-1-4)

LME lead will still trade at highs of USD 1,770-1,800/mt during Asian trading hours Monday.

Jan 4, 2016 09:59

SMM Comments

Further Downside Room in Sight for LME Lead Next Week

LME lead enters downside track with exit of longs and will put support at $ 1,600 per tonne in check next week, SMM predicts.

Dec 18, 2015 15:11

SMM Insight

LME Lead to See Small Upside Room Next Week, SMM says

Any big gains in LME lead will be curbed by firmer dollar next week and LME lead should trade at highs $ 1,680-1,735 yuan per tonne despite upbeat technical indicators.

Dec 11, 2015 15:42

SMM Insight

SHFE Lead Resists Declines despite China Poor Data (Dec. 8, 2015)

SHFE 1602 lead once lurched up to RMB 13,025/mt after opening Monday night trading session at RMB 13,000/mt.

Dec 8, 2015 16:31

SMM Comments

Shanghai Lead Prices Set for Gains on Rising Demand (2015-12-7)

LME lead is expected to move at USD 1,665-1,695/mt during Asian trading hours Monday.

Dec 7, 2015 09:49

SMM Comments

SHFE Lead Falls 0.75% on Firmness in Dollar (Dec. 3, 2015)

SHFE 1602 lead started Wednesday evening session at RMB 12,620/mt before shooting up to RMB 13,000/mt.

Dec 3, 2015 15:31

SMM Comments

China Lead Prices to Get Boost from SCO Summit

Some lead producers will cut production in China’s Henan, SMM understands.

Dec 2, 2015 13:31

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LME Lead to See Range-Bound Trading (2016-5-24)

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