SHFE Lead to Drift Higher (2016-7-22)

Published: Jul 22, 2016 09:36

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SHFE 1609 lead will edge up to RMB 13,250-13,450/mt on Jul. 22.

SHANGHAI, Jul. 22 (SMM) – SHFE 1609 lead will edge up to RMB 13,250-13,450/mt on Jul. 22.

A series of US economic figures released recently show improvement in US economy. This may boost the rate hike pace by US Fed.

LME lead will face pressure from firmer dollar and range USD 1,850-1,870/mt during Asian trading hours Friday. In China’s spot market, lead holders are optimistic and thus hold back sales in face of low prices. Downstream demand stays weak and spot trading will be still quiet. Spot lead should trace SHFE lead up to RMB 12,950-13,100/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-7-22)

SHFE lead prices LME lead price forecast

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