LME Lead to Face Pains from Stronger Dollar (2016-8-5)

SHANGHAI, Aug. 5 (SMM) – LME lead will face downward pressure due to firmer dollar and fluctuate between USD 1,780-1,800/mt during Asian trading hours Friday.

US July non-farm payrolls should be positive, which will support US dollar. This will depress base metals.

SHFE 1609 lead will fluctuate between RMB 13,700-13,900/mt on Aug. 5. In China’s spot market, price offers for branded lead remain limited and downstream demand continues improving. But buyers chose to watch from the sideline. Spot lead will trade at RMB 13,700-13,800/mt today.