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Home / Metal News / LME Lead to Face Pains from Firmer Dollar (2016-6-28)

LME Lead to Face Pains from Firmer Dollar (2016-6-28)

Jun 28, 2016 09:20

Source:SMM

LME lead will suffer downward pressure from firmer dollar and will range between USD 1,690-1,710/mt during Asian trading hours Tuesday.

SHANGHAI, Jun. 28 (SMM) – LME lead will suffer downward pressure from firmer dollar and will range between USD 1,690-1,710/mt during Asian trading hours Tuesday.

Markets expect US Q1 annualized GDP to be positive, which will support US dollar.

SHFE 1608 lead will hover between RMB 12,700-12,850/mt on Jun. 28. In China’s spot market, downstream battery makers report mounting stocks and show little buying interest. Some smelters move goods out at larger discounts, but this do not work effectively. Spot lead should trade at RMB 12,650-12,800/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-28)

LME lead price forecast

Pb prices

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SMM survey of 30 Chinese lead producers reveals that 64% of them expect lead price to move in current level this week.

Mar 1, 2016 08:49

SMM Comments

LME Lead to Struggle around $ 1,700 Tonne Next Week

LME lead will likely struggle around $ 1,700 per tonne next week, SMM predicts.

Feb 26, 2016 15:50

SMM Insight

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SHFE 1604 lead should outperform LME lead on Monday and will move between RMB 13,530-13,700/mt today.

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56% China Lead Producers Expect Lead Prices to Stabilize This Week, SMM Survey

56% of Chinese lead smelters see lead prices to move in current range this week with LME lead between USD 1,800-1,850/mt and spot lead around RMB 14,000/mt.

Feb 16, 2016 16:17

SMM Comments

LME Lead to Stay Range-Bound (2016-2-16)

LME lead will move in a tight range of USD 1,820-1,850/mt during Asian trading hours Tuesday with support at the 5-day moving average.

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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.

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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.

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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

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LME Lead to Face Pains from Firmer Dollar (2016-6-28)

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