SHFE Lead to Drift Higher (2016-6-21)-Shanghai Metals Market

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SHFE Lead to Drift Higher (2016-6-21)

Price Review & Forecast 09:23:13AM Jun 21, 2016 Source:SMM

SHANGHAI, Jun. 21 (SMM) – SHFE 1608 lead will inch higher to RMB 12,780-12,920/mt on Jun. 21.

Market will still focus on the Brexit referendum and base metals prices may fall back. LME lead will fluctuate between USD 1,700-1,720/mt during Asian trading hours Tuesday.

In China’s spot market, demand is still weak and stocks at smelters pile up. This makes smelters move goods out at discounts. Spot lead should trace SHFE lead up to RMB 12,700-12,800/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-21)

Price

more
Aluminum Ingot
Dec.09
14060.0
-10.0
(-0.07%)
Aluminum Ingot - Fo Shan
Dec.09
14060.0
0.0
(0.00%)
Aluminum Ingot - Wu Xi
Dec.09
14070.0
10.0
(0.07%)
Aluminum Ingot - Hang Zhou
Dec.09
14085.0
-20.0
(-0.14%)
Aluminum Ingot - Chong Qing
Dec.09
14060.0
0.0
(0.00%)

SHFE Lead to Drift Higher (2016-6-21)

Price Review & Forecast 09:23:13AM Jun 21, 2016 Source:SMM

SHANGHAI, Jun. 21 (SMM) – SHFE 1608 lead will inch higher to RMB 12,780-12,920/mt on Jun. 21.

Market will still focus on the Brexit referendum and base metals prices may fall back. LME lead will fluctuate between USD 1,700-1,720/mt during Asian trading hours Tuesday.

In China’s spot market, demand is still weak and stocks at smelters pile up. This makes smelters move goods out at discounts. Spot lead should trace SHFE lead up to RMB 12,700-12,800/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-21)