SHANGHAI, Jun. 30 (SMM) – LME lead will grow to USD 1,750-1,770/mt during Asian trading hours Thursday.
Markets expect US last week’s initial jobless claims to be positive. This will weigh on US dollar. In turn, commodity prices will get boost.
SHFE 1608 lead will hover between RMB 12,900-13,050/mt on Jun. 30. In China’s spot market, supply is in surplus and downstream buyers favor term purchase at month’s end. Spot lead should trace SHFE lead up to RMB 12,750-12,850/mt today.