SHANGHAI, Jul. 21 (SMM) – LME lead will narrowly range USD 1,850-1,870/mt during Asian trading hours Thursday.

Attention will be on rate decision by the ECB and speeches delivered by Draghi today, which will influence movements of US dollar and base metals.  

SHFE 1609 lead gradually rolled back earlier losses and will hover between RMB 13,200-13,350/mt on Jul. 21. In China’s spot market, downstream buyers rake a wait-and-see stance in face of high prices and overall transaction will be thin. Spot lead should be offered at RMB 12,900-13,050/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2116-7-21)