LME Lead to See Range-Bound Trading (2016-6-6)-Shanghai Metals Market

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LME Lead to See Range-Bound Trading (2016-6-6)

Price Review & Forecast 09:45:36AM Jun 06, 2016 Source:SMM

SHANGHAI, Jun. 6 (SMM) – LME lead will narrowly range USD 1,700-1,720/mt during Asian trading hours Monday.

US non-farm payrolls for May released last Friday indicate that US employment fell to a 6-year low and this almost kills expectation for rate hike in June. Us dollar index dropped rapidly.

SHFE 1607 lead will fluctuate between RMB 12,700-12,850/mt on Jun. 6. In China’s spot market, smelters hold back sales while downstream purchase is sluggish. Spot lead should be offered at RMB 12,700-12,800/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-6)          

LME Lead to See Range-Bound Trading (2016-6-6)

Price Review & Forecast 09:45:36AM Jun 06, 2016 Source:SMM

SHANGHAI, Jun. 6 (SMM) – LME lead will narrowly range USD 1,700-1,720/mt during Asian trading hours Monday.

US non-farm payrolls for May released last Friday indicate that US employment fell to a 6-year low and this almost kills expectation for rate hike in June. Us dollar index dropped rapidly.

SHFE 1607 lead will fluctuate between RMB 12,700-12,850/mt on Jun. 6. In China’s spot market, smelters hold back sales while downstream purchase is sluggish. Spot lead should be offered at RMB 12,700-12,800/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-6)