LME Lead to Remain on the Downward Track Next Week, SMM Predicts

Published: Jun 24, 2016 17:00

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With negative technical indicators, LME lead may test support at $ 1,680 per tonne next week, SMM lead analysts expect.

SHANGHAI, Jun. 24 (SMM) – With negative technical indicators, LME lead may test support at $ 1,680 per tonne next week, SMM lead analysts expect.

On the SHFE market, the August-delivery lead contract will see weak trading and mainly fluctuate around 12,800 yuan per tonne.

Spot lead in China will quote at 12,550-12,700 yuan per tonne. Traders will rush to sell while downstream buyers will still purchase under term contracts in the low-demand season. Battery producers will continue lowering operating rates, and show little buying interest.

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LME lead price forecast SHFE lead prices Pb prices

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