SHANGHAI, Jul. 28 (SMM) – LME lead will range between USD 1,785-1,805/mt during Asian trading hours Thursday.
Eyes will be US initial jobless claims in the week ending July 23, which may be higher than prior level. This will weigh in US dollar.
SHFE 1609 lead will hover between RMB 13,550-13,750/mt on Jul. 28. In China’s spot market, cargo holders hold back sales. Downstream buyers favor term purchase and trading will stay dull. Spot lead should trace SHFE lead down to RMB 13,250-13,400/mt today.